Thurston Springer Miller Herd & Titak Inc. Buys Shares of 197 The Cigna Group (NYSE:CI)

Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group (NYSE:CI) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 197 shares of the health services provider’s stock, valued at approximately $66,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hanson & Doremus Investment Management increased its position in shares of The Cigna Group by 3.5% during the first quarter. Hanson & Doremus Investment Management now owns 867 shares of the health services provider’s stock worth $315,000 after acquiring an additional 29 shares during the period. Capital Asset Advisory Services LLC raised its position in The Cigna Group by 2.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after purchasing an additional 29 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in The Cigna Group by 10.6% during 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 in the last quarter. First Financial Corp IN lifted its holdings in shares of 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 buying an additional 33 shares during the period. Finally, Somerset Trust Co grew its position in shares of 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 buying an additional 34 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

CI stock traded up $5.25 during midday trading on Wednesday, reaching $334.54. The stock had a trading volume of 153,060 shares, compared to its average volume of 1,575,067. The firm has a fifty day simple moving average of $335.59 and a two-hundred day simple moving average of $339.48. 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 stock has a market cap of $95.03 billion, a PE ratio of 27.04, a P/E/G ratio of 1.02 and a beta of 0.52. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the firm posted $6.13 EPS. The Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Cigna Group will post 28.4 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In related news, insider Noelle K. Eder sold 10,700 shares of the firm’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 directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction 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 completion of the sale, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CI shares. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler assumed coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. Oppenheimer boosted their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $381.00.

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.