Kennedy Capital Management LLC Buys Shares of 9,814 The Cigna Group (NYSE:CI)

Kennedy Capital Management LLC bought a new position in shares of The Cigna Group (NYSE:CI) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 9,814 shares of the health services provider’s stock, valued at approximately $3,564,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Silicon Valley Capital Partners boosted its position in shares of The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the 1st quarter worth $29,000. Raleigh Capital Management Inc. boosted its position in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the period. Pineridge Advisors LLC bought a new position in shares of The Cigna Group during the fourth quarter worth about $37,000. Finally, MeadowBrook Investment Advisors LLC bought a new position in shares of The Cigna Group during the fourth quarter worth about $43,000. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling

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 value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,988 shares of company stock worth $7,975,726. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE:CI traded up $6.23 on Tuesday, reaching $352.77. 900,513 shares of the company’s stock were exchanged, compared to its average volume of 1,555,645. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The company has a fifty day moving average of $335.24 and a 200-day moving average of $338.14. The company has a market capitalization of $100.21 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.05 and a beta of 0.52. 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 (NYSE:CI) last issued its quarterly 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 business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the previous year, the company posted $5.41 earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CI. Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective on the stock. Oppenheimer boosted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $376.20.

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.