Verum Partners LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

Verum Partners LLC raised its position in shares of The Cigna Group (NYSE:CI) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 806 shares of the health services provider’s stock after buying an additional 65 shares during the quarter. Verum Partners LLC’s holdings in The Cigna Group were worth $293,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Capital Asset Advisory Services LLC raised its stake in The Cigna Group by 2.3% in the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after buying an additional 29 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of The Cigna Group by 10.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 32 shares during the last quarter. First Financial Corp IN boosted its stake in The Cigna Group by 17.2% in the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock worth $82,000 after purchasing an additional 33 shares in the last quarter. Somerset Trust Co grew its position in The Cigna Group by 1.6% during the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after purchasing an additional 34 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC increased its stake in The Cigna Group by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after purchasing an additional 35 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

NYSE CI traded down $0.36 during trading hours on Tuesday, reaching $325.91. The company’s stock had a trading volume of 1,055,980 shares, compared to its average volume of 1,616,527. The firm has a market capitalization of $92.58 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 1.01 and a beta of 0.52. The company’s 50-day moving average is $340.69 and its two-hundred day moving average is $333.60. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping 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 business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the prior year, the company posted $5.41 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. On average, equities analysts predict 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, June 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.72%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CI. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, June 12th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Robert W. Baird began coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. Barclays began coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Finally, Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $376.20.

Insider Activity at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction on 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 transaction, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.70% of the stock is owned by corporate insiders.

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.