Vaughan David Investments LLC IL Raises Stock Holdings in The Cigna Group (NYSE:CI)

Vaughan David Investments LLC IL raised its stake in The Cigna Group (NYSE:CI) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,857 shares of the health services provider’s stock after purchasing an additional 540 shares during the period. The Cigna Group accounts for approximately 1.2% of Vaughan David Investments LLC IL’s investment portfolio, making the stock its 23rd largest holding. Vaughan David Investments LLC IL’s holdings in The Cigna Group were worth $46,894,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CI. Silicon Valley Capital Partners lifted its holdings in shares of The Cigna Group by 100.0% during the 1st 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 purchased a new stake in The Cigna Group in the first quarter valued at about $29,000. Raleigh Capital Management Inc. boosted its holdings in The Cigna Group by 69.5% in the fourth 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 in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the second quarter worth about $33,000. Finally, Pineridge Advisors LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at about $37,000. 86.99% of the stock is currently owned by institutional investors.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of the 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 completion of 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 available through this hyperlink. In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, 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. In the last three months, insiders have sold 8,033 shares of company stock valued at $2,757,740. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

NYSE CI opened at $358.11 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.64. The stock has a 50-day moving average of $341.89 and a 200 day moving average of $343.82. The stock has a market capitalization of $100.11 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.08 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (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 analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $6.13 EPS. Sell-side analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared 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 dividend yield of 1.56%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CI. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Tuesday. One investment 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. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $387.00.

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.