Brown Financial Advisors Takes $1.70 Million Position in The Cigna Group (NYSE:CI)

Brown Financial Advisors purchased a new stake in shares of The Cigna Group (NYSE:CI) in the second quarter, Holdings Channel reports. The firm purchased 5,143 shares of the health services provider’s stock, valued at approximately $1,700,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Scotia Capital Inc. increased its stake in The Cigna Group by 13.4% during the 4th quarter. Scotia Capital Inc. now owns 2,045 shares of the health services provider’s stock valued at $612,000 after purchasing an additional 242 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in The Cigna Group by 26.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 3,159 shares of the health services provider’s stock valued at $946,000 after purchasing an additional 653 shares in the last quarter. Jones Financial Companies Lllp increased its stake in The Cigna Group by 12.1% during the 4th quarter. Jones Financial Companies Lllp now owns 1,317 shares of the health services provider’s stock valued at $394,000 after purchasing an additional 142 shares in the last quarter. NEOS Investment Management LLC increased its stake in The Cigna Group by 38.8% during the 4th quarter. NEOS Investment Management LLC now owns 4,149 shares of the health services provider’s stock valued at $1,242,000 after purchasing an additional 1,160 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in The Cigna Group by 1.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 70,145 shares of the health services provider’s stock valued at $21,005,000 after purchasing an additional 1,268 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.5 %

Shares of The Cigna Group stock opened at $348.10 on Wednesday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock’s 50-day simple moving average is $348.62 and its 200 day simple moving average is $345.25. The stock has a market capitalization of $98.89 billion, a P/E ratio of 28.58, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current 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 (EPS) 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 business had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same period in the previous year, the business posted $6.13 EPS. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CI. Barclays lifted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of 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 raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group boosted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $392.79.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly 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. Company insiders own 0.60% of the company’s stock.

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.