Oak Thistle LLC Acquires Shares of 1,523 The Cigna Group (NYSE:CI)

Oak Thistle LLC bought a new position in The Cigna Group (NYSE:CI) in the 2nd quarter, Holdings Channel reports. The firm bought 1,523 shares of the health services provider’s stock, valued at approximately $503,000.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Asset Advisory Services LLC boosted its position in The Cigna Group by 2.3% during the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after purchasing an additional 29 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in The Cigna Group by 10.6% during the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after purchasing an additional 32 shares during the last quarter. Capital Investment Advisors LLC raised its position in shares of The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after buying an additional 32 shares during the period. Finally, Saxony Capital Management LLC raised its position in The Cigna Group by 5.3% in the second quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock valued at $211,000 after purchasing an additional 32 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $353.49 on Monday. The company’s fifty day moving average is $340.62 and its two-hundred day moving average is $343.61. 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 firm has a market capitalization of $98.82 billion, a P/E ratio of 29.02, a PEG ratio of 1.08 and a beta of 0.50. The Cigna Group has a one year low of $253.95 and a one year high of $370.64.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.13 earnings per share. Analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Monday, August 19th. Piper Sandler assumed coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird initiated coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Finally, Barclays raised their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One 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. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $384.86.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated 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 sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction dated 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 owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. In the last three months, insiders sold 9,033 shares of company stock worth $3,095,820. 0.60% 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.