Oxbow Advisors LLC Reduces Holdings in The Cigna Group (NYSE:CI)

Oxbow Advisors LLC decreased its position in shares of The Cigna Group (NYSE:CI) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,409 shares of the health services provider’s stock after selling 514 shares during the period. Oxbow Advisors LLC’s holdings in The Cigna Group were worth $5,424,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Silicon Valley Capital Partners increased its stake in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after buying an additional 35 shares during the period. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. grew its stake 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 purchasing an additional 41 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the 2nd quarter worth $33,000. Finally, Pineridge Advisors LLC bought a new stake in The Cigna Group during the 4th quarter valued at $37,000. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred 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 directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated 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 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 through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,033 shares of company stock worth $3,095,820. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird initiated coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Monday, August 19th. Piper Sandler assumed coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $384.86.

The Cigna Group Stock Performance

Shares of NYSE:CI traded down $1.63 during trading on Friday, hitting $353.49. The stock had a trading volume of 2,363,544 shares, compared to its average volume of 1,540,366. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.64. The stock has a market capitalization of $100.42 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.10 and a beta of 0.52. The stock 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 results 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 company had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $6.13 EPS. On average, equities research analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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

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.