Koss Olinger Consulting LLC Purchases Shares of 970 The Cigna Group (NYSE:CI)

Koss Olinger Consulting LLC purchased a new position in shares of The Cigna Group (NYSE:CI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 970 shares of the health services provider’s stock, valued at approximately $321,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Silicon Valley Capital Partners grew its position in shares of 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 buying an additional 35 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the first quarter valued at $29,000. Raleigh Capital Management Inc. grew its holdings in shares of The Cigna Group by 69.5% during 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 during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the second quarter worth about $33,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at about $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Trading Down 0.5 %

NYSE CI opened at $353.49 on Monday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.64. The firm has a 50-day moving average price of $340.62 and a 200 day moving average price of $343.61. The stock has a market capitalization of $100.42 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.10 and a beta of 0.50. 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 (NYSE:CI) last issued its 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 Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the prior year, the business posted $6.13 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities research analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on CI shares. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays raised their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Monday, August 19th. Robert W. Baird began coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Finally, Piper Sandler initiated 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 objective on the stock. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $384.86.

Insider Activity

In related news, Director Elder Granger sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,849,635.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on 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 $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Elder Granger sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 5,471 shares in the company, valued at $1,849,635.68. The disclosure for this sale can be found here. Insiders sold 9,033 shares of company stock worth $3,095,820 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

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.