Prosperity Consulting Group LLC Buys Shares of 623 The Cigna Group (NYSE:CI)

Prosperity Consulting Group LLC purchased a new stake in shares of The Cigna Group (NYSE:CI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 623 shares of the health services provider’s stock, valued at approximately $206,000.

A number of other institutional investors have also modified their holdings of CI. Silicon Valley Capital Partners increased its position in The Cigna Group by 100.0% during 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 in the last quarter. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group during the first quarter worth about $29,000. Raleigh Capital Management Inc. increased its holdings in The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the period. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the 2nd quarter worth approximately $33,000. Finally, Pineridge Advisors LLC acquired a new stake in The Cigna Group during the 4th quarter valued at approximately $37,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays boosted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. 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 company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $387.00.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $364.72 on Monday. The stock has a market capitalization of $101.96 billion, a P/E ratio of 29.94, a PEG ratio of 1.09 and a beta of 0.50. The business has a 50 day simple moving average of $344.18 and a two-hundred day simple moving average of $344.29. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.64. 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 announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share 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 for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter last year, the firm posted $6.13 EPS. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis 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 Transactions at The Cigna Group

In related 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 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 accessible through this link. In other news, 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 sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.