Cypress Capital Group Has $1.10 Million Stake in The Cigna Group (NYSE:CI)

Cypress Capital Group lowered its stake in shares of The Cigna Group (NYSE:CI) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,319 shares of the health services provider’s stock after selling 197 shares during the period. Cypress Capital Group’s holdings in The Cigna Group were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Silicon Valley Capital Partners lifted 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 valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in The Cigna Group during the first quarter worth approximately $29,000. Raleigh Capital Management Inc. lifted its holdings in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in The Cigna Group in the 2nd quarter valued at about $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of The Cigna Group during the fourth quarter worth approximately $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Up 2.2 %

Shares of CI traded up $7.52 during mid-day trading on Friday, hitting $353.99. 1,425,818 shares of the company’s stock traded hands, compared to its average volume of 1,544,043. The business’s 50-day moving average price is $336.09 and its 200-day moving average price is $342.17. The firm has a market capitalization of $100.56 billion, a P/E ratio of 29.06, a PEG ratio of 1.02 and a beta of 0.52. 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 1 year low of $253.95 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same period in the previous year, the firm posted $6.13 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Announces Dividend

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

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the company’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 owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction 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 sale, the insider now 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 accessible through this hyperlink. Also, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,849,635.68. The disclosure for this sale can be found here. Insiders have sold 9,033 shares of company stock valued at $3,095,820 over the last ninety days. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CI shares. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Oppenheimer increased their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Robert W. Baird assumed 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 target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Monday, August 19th. Finally, Piper Sandler assumed coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. One equities research 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $384.86.

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.