Creative Planning Boosts Holdings in The Cigna Group (NYSE:CI)

Creative Planning raised its position in The Cigna Group (NYSE:CI) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,661 shares of the health services provider’s stock after acquiring an additional 72 shares during the quarter. Creative Planning’s holdings in The Cigna Group were worth $18,400,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in 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 acquired a new position in The Cigna Group in the 1st quarter valued at $29,000. Raleigh Capital Management Inc. grew 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 worth $30,000 after purchasing an additional 41 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group during the 2nd quarter worth $33,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI opened at $346.44 on Tuesday. The stock has a market cap of $98.41 billion, a PE ratio of 28.44, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The stock’s 50 day simple moving average is $348.38 and its 200-day simple moving average is $345.28.

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

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.62%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the 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 transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of a number of recent research reports. Piper Sandler assumed coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $392.79.

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.