Sivia Capital Partners LLC Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Sivia Capital Partners LLC lessened its holdings in The Cigna Group (NYSE:CI) by 36.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 801 shares of the health services provider’s stock after selling 469 shares during the quarter. Sivia Capital Partners LLC’s holdings in The Cigna Group were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CI. Silicon Valley Capital Partners lifted its stake in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the 1st quarter worth $29,000. Raleigh Capital Management Inc. increased its holdings in The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the 2nd quarter valued at about $33,000. Finally, Pineridge Advisors LLC purchased a new stake in The Cigna Group during the fourth quarter valued at about $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 0.5 %

Shares of The Cigna Group stock opened at $353.50 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.64. The firm has a market cap of $100.42 billion, a PE ratio of 29.02, a PEG ratio of 1.10 and a beta of 0.52. The company has a 50 day simple moving average of $340.62 and a two-hundred day simple moving average of $343.60.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the previous year, the firm posted $6.13 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year. Analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Insiders sold 9,033 shares of company stock worth $3,095,820 in the last quarter. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CI. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Monday, August 19th. Barclays raised their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $384.86.

The Cigna Group Company 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.