One Capital Management LLC Boosts Holdings in The Cigna Group (NYSE:CI)

One Capital Management LLC raised its holdings in The Cigna Group (NYSE:CI) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,773 shares of the health services provider’s stock after purchasing an additional 2,435 shares during the period. One Capital Management LLC’s holdings in The Cigna Group were worth $11,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CI. Capital Asset Advisory Services LLC raised its stake in The Cigna Group by 2.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after purchasing an additional 29 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of The Cigna Group by 10.6% during the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after buying an additional 32 shares during the period. Capital Investment Advisors LLC boosted its position in The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after acquiring an additional 32 shares during the last quarter. Finally, Saxony Capital Management LLC boosted its position in The Cigna Group by 5.3% during the second quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock worth $211,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of a number of recent analyst reports. Barclays increased their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Tuesday, September 10th. Piper Sandler assumed coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price 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 investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $387.00.

The Cigna Group Stock Performance

NYSE:CI opened at $364.72 on Monday. The firm’s fifty day simple moving average is $344.18 and its 200 day simple moving average is $344.29. 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 firm has a market capitalization of $101.96 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the prior year, the business earned $6.13 earnings per share. The company’s revenue was up 24.6% compared to the same quarter last year. As a group, equities research analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Activity

In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the company’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 completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.