Atlas Capital Advisors LLC Increases Stock Holdings in The Cigna Group (NYSE:CI)

Atlas Capital Advisors LLC boosted its position in The Cigna Group (NYSE:CI) by 182.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,934 shares of the health services provider’s stock after purchasing an additional 1,896 shares during the period. Atlas Capital Advisors LLC’s holdings in The Cigna Group were worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CI. Eagle Rock Investment Company LLC bought a new position in shares of The Cigna Group in the first quarter worth about $606,000. Windsor Capital Management LLC bought a new position in shares of The Cigna Group in the first quarter worth about $200,000. First Financial Corp IN raised its stake in shares of The Cigna Group by 17.2% in the first quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock worth $82,000 after buying an additional 33 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of The Cigna Group by 13.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,290 shares of the health services provider’s stock worth $1,558,000 after buying an additional 501 shares during the period. Finally, Riverview Trust Co bought a new position in shares of The Cigna Group in the first quarter worth about $96,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CI. Oppenheimer lifted their target price on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Barclays initiated coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Finally, Robert W. Baird initiated coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $374.50.

The Cigna Group Stock Down 1.3 %

Shares of CI traded down $4.34 during trading hours on Tuesday, hitting $338.80. The company had a trading volume of 986,236 shares, compared to its average volume of 1,618,201. The company has a market capitalization of $96.24 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.54. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The company’s fifty day moving average price is $342.12 and its two-hundred day moving average price is $332.66.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the prior year, the company posted $5.41 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts forecast that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.65%. The Cigna Group’s payout ratio is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,193 shares of company stock worth $6,321,404. 0.70% of the stock is currently owned by insiders.

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.