Mather Group LLC. Acquires 312 Shares of The Cigna Group (NYSE:CI)

Mather Group LLC. raised its holdings in shares of The Cigna Group (NYSE:CI) by 51.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 917 shares of the health services provider’s stock after acquiring an additional 312 shares during the quarter. Mather Group LLC.’s holdings in The Cigna Group were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CI. Hanson & Doremus Investment Management lifted its holdings in The Cigna Group by 3.5% during the first quarter. Hanson & Doremus Investment Management now owns 867 shares of the health services provider’s stock valued at $315,000 after purchasing an additional 29 shares in the last quarter. Capital Asset Advisory Services LLC lifted its stake in shares of The Cigna Group by 2.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after buying an additional 29 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in The Cigna Group by 10.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after buying an additional 32 shares during the period. First Financial Corp IN increased its stake in The Cigna Group by 17.2% in the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock worth $82,000 after buying an additional 33 shares in the last quarter. Finally, Somerset Trust Co increased its stake in The Cigna Group by 1.6% in the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after buying an additional 34 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of several research analyst reports. Piper Sandler initiated coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Robert W. Baird started coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $381.00.

Insider Activity

In other news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elder Granger sold 547 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,988 shares of company stock valued at $7,975,726. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Trading Up 1.0 %

CI traded up $3.42 during trading on Wednesday, reaching $332.71. The company had a trading volume of 500,789 shares, compared to its average volume of 1,577,370. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The stock has a market cap of $94.51 billion, a P/E ratio of 27.47, a PEG ratio of 1.02 and a beta of 0.52. The business has a 50 day simple moving average of $335.59 and a 200-day simple moving average of $339.48.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.13 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

The Cigna Group Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.