Resonant Capital Advisors LLC Increases Holdings in The Cigna Group (NYSE:CI)

Resonant Capital Advisors LLC grew its holdings in The Cigna Group (NYSE:CI) by 6.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 869 shares of the health services provider’s stock after buying an additional 56 shares during the quarter. Resonant Capital Advisors LLC’s holdings in The Cigna Group were worth $287,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Silicon Valley Capital Partners lifted its stake in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares during the period. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the 1st quarter worth about $29,000. Raleigh Capital Management Inc. boosted its stake in shares of 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 in the last quarter. TruNorth Capital Management LLC bought a new position in The Cigna Group in the second quarter worth about $33,000. Finally, Pineridge Advisors LLC purchased a new stake in The Cigna Group in the fourth quarter worth about $37,000. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,849,635.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Elder Granger sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the firm’s 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 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. Over the last quarter, insiders have sold 9,033 shares of company stock worth $3,095,820. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

CI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped 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. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Robert W. Baird initiated coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target for the company. Finally, Barclays boosted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. 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 stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $384.86.

The Cigna Group Price Performance

Shares of NYSE CI opened at $361.81 on Tuesday. The firm has a market cap of $102.78 billion, a P/E ratio of 29.71, a PEG ratio of 1.10 and a beta of 0.52. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. 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 company has a 50 day moving average of $338.62 and a 200 day moving average of $343.09.

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 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 firm 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 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis. As a group, research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.55%. The Cigna Group’s payout ratio is 45.98%.

The Cigna Group Company 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.