Maverick Capital Ltd. Purchases New Stake in The Cigna Group (NYSE:CI)

Maverick Capital Ltd. acquired a new position in shares of The Cigna Group (NYSE:CI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,481 shares of the health services provider’s stock, valued at approximately $490,000.

Other hedge funds have also recently bought and sold shares of the company. Silicon Valley Capital Partners lifted its position in shares of 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 worth $25,000 after buying an additional 35 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group in the first quarter worth about $29,000. Raleigh Capital Management Inc. boosted its stake in shares of 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 valued at $30,000 after purchasing an additional 41 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC acquired a new position in The Cigna Group during the 4th quarter worth approximately $37,000. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CI shares. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Monday, September 16th. Finally, Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. One research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Trading Up 0.8 %

NYSE CI opened at $347.70 on Friday. The stock has a market capitalization of $98.77 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.08 and a beta of 0.50. The business has a 50 day simple moving average of $348.16 and a 200 day simple moving average of $345.32. 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 has a one year low of $253.95 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the firm posted $6.13 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.61%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

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.