Marcum Wealth LLC Has $455,000 Stake in The Cigna Group (NYSE:CI)

Marcum Wealth LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,377 shares of the health services provider’s stock after purchasing an additional 67 shares during the quarter. Marcum Wealth LLC’s holdings in The Cigna Group were worth $455,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

CI has been the topic of several research analyst reports. JPMorgan Chase & Co. increased 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. Oppenheimer increased 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 report on Friday, May 3rd. Robert W. Baird initiated coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, July 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $381.00.

The Cigna Group Price Performance

Shares of CI traded down $11.45 during mid-day trading on Monday, reaching $325.88. The company had a trading volume of 2,507,380 shares, compared to its average volume of 1,576,961. The company’s 50 day simple moving average is $335.80 and its 200 day simple moving average is $339.17. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $92.57 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the company posted $6.13 EPS. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. Analysts expect that The Cigna Group will post 28.4 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.72%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Buying and Selling

In other news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The shares were 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 owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold a total of 22,988 shares of company stock worth $7,975,726 in the last ninety days. Company insiders own 0.60% of the company’s stock.

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.