The Cigna Group (NYSE:CI) Shares Acquired by SPC Financial Inc.

SPC Financial Inc. grew its position in The Cigna Group (NYSE:CI) by 47.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,085 shares of the health services provider’s stock after purchasing an additional 1,629 shares during the quarter. SPC Financial Inc.’s holdings in The Cigna Group were worth $1,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CI. Hanson & Doremus Investment Management raised its stake in The Cigna Group by 3.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 867 shares of the health services provider’s stock worth $315,000 after acquiring an additional 29 shares in the last quarter. Capital Asset Advisory Services LLC raised its stake in 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 worth $464,000 after acquiring an additional 29 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in The Cigna Group by 10.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after acquiring an additional 32 shares in the last quarter. First Financial Corp IN raised its stake in The Cigna Group by 17.2% during the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock worth $82,000 after acquiring an additional 33 shares in the last quarter. Finally, Somerset Trust Co raised its stake in The Cigna Group by 1.6% during the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after acquiring an additional 34 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 547 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were 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 $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CI. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Oppenheimer lifted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday. Finally, StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $3.65 on Thursday, reaching $333.56. 1,142,642 shares of the stock were exchanged, compared to its average volume of 1,609,497. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. 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 business has a fifty day moving average price of $336.55 and a two-hundred day moving average price of $334.83. The firm has a market capitalization of $94.75 billion, a PE ratio of 27.38, a PEG ratio of 0.99 and a beta of 0.52.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the prior year, the business posted $5.41 earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.68%. The Cigna Group’s payout ratio is currently 45.98%.

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.