Optas LLC Grows Stock Position in The Cigna Group (NYSE:CI)

Optas LLC boosted its stake in The Cigna Group (NYSE:CI) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,022 shares of the health services provider’s stock after acquiring an additional 86 shares during the quarter. Optas LLC’s holdings in The Cigna Group were worth $1,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CI. Fortitude Family Office LLC purchased a new position in shares of The Cigna Group during the 4th quarter valued at approximately $29,000. VisionPoint Advisory Group LLC boosted its stake in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares during the last quarter. Raleigh Capital Management Inc. raised its position in shares of The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $37,000. Finally, Pacifica Partners Inc. raised its position in shares of The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Noelle K. Eder sold 10,700 shares of the 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 completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 in the last quarter. 0.60% of the stock is owned by company insiders.

The Cigna Group Price Performance

CI stock traded down $3.58 during trading hours on Friday, hitting $330.57. 2,645,258 shares of the stock traded hands, compared to its average volume of 1,508,288. The stock has a 50-day simple moving average of $341.23 and a 200 day simple moving average of $333.41. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The company has a market cap of $93.91 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.01 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter last year, the business posted $5.41 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CI shares. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Robert W. Baird started coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Piper Sandler started coverage on The Cigna Group in a research report on Wednesday. They issued an “overweight” rating and a $400.00 target price on the stock. Finally, Barclays started coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $376.20.

About The Cigna Group

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.