Apollon Wealth Management LLC Boosts Stake in The Cigna Group (NYSE:CI)

Apollon Wealth Management LLC boosted its stake in shares of The Cigna Group (NYSE:CI) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,744 shares of the health services provider’s stock after purchasing an additional 294 shares during the period. Apollon Wealth Management LLC’s holdings in The Cigna Group were worth $2,890,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its holdings in The Cigna Group by 8.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,408 shares of the health services provider’s stock valued at $465,000 after acquiring an additional 107 shares during the period. RBA Wealth Management LLC raised its stake in The Cigna Group by 2.9% during the 2nd quarter. RBA Wealth Management LLC now owns 10,653 shares of the health services provider’s stock valued at $3,522,000 after purchasing an additional 304 shares during the period. Williams Financial LLC purchased a new position in The Cigna Group in the 2nd quarter worth approximately $732,000. Raymond James & Associates boosted its stake in The Cigna Group by 3.2% in the 2nd quarter. Raymond James & Associates now owns 602,339 shares of the health services provider’s stock worth $199,115,000 after purchasing an additional 18,733 shares during the period. Finally, OFI Invest Asset Management grew its holdings in The Cigna Group by 3,886.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,947 shares of the health services provider’s stock valued at $1,217,000 after buying an additional 3,848 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In related 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 sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred 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 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 sold a total of 6,342 shares of company stock valued at $2,173,668 in the last three months. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CI. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Monday. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $384.64.

The Cigna Group Stock Down 0.0 %

Shares of NYSE CI opened at $342.15 on Tuesday. The company has a market cap of $97.20 billion, a P/E ratio of 28.09, a PEG ratio of 1.02 and a beta of 0.52. The firm has a 50-day simple moving average of $335.21 and a two-hundred day simple moving average of $341.59. 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 current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 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 analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the business earned $6.13 EPS. The Cigna Group’s revenue was up 24.6% compared to the same quarter last year. Research analysts anticipate that The Cigna Group will post 28.4 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The Cigna Group’s payout ratio is 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.