Keynote Financial Services LLC Invests $677,000 in The Cigna Group (NYSE:CI)

Keynote Financial Services LLC bought a new stake in The Cigna Group (NYSE:CI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,864 shares of the health services provider’s stock, valued at approximately $677,000.

Other large investors have also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners increased its position in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cedar Wealth Management LLC bought a new position in The Cigna Group during the 1st quarter valued at $29,000. Raleigh Capital Management Inc. boosted its stake in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Pineridge Advisors LLC bought a new position in The Cigna Group during the 4th quarter valued at $37,000. Finally, Byrne Asset Management LLC bought a new position in The Cigna Group during the 1st quarter valued at $51,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Up 1.4 %

Shares of The Cigna Group stock traded up $4.73 during midday trading on Friday, hitting $337.33. The company’s stock had a trading volume of 3,193,740 shares, compared to its average volume of 1,247,865. The firm has a market capitalization of $95.83 billion, a P/E ratio of 27.70, a PEG ratio of 1.02 and a beta of 0.52. The stock has a 50-day simple moving average of $335.80 and a 200-day simple moving average of $338.95. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. 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 quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the company earned $6.13 earnings per share. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts expect that The Cigna Group will post 28.4 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The Cigna Group’s dividend payout ratio is 45.98%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler assumed coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday. Barclays raised their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird began coverage on The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $379.06.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 547 shares of the firm’s 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 transaction, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a filing with the SEC, which is available through this link. In other The Cigna Group news, Director Elder Granger sold 547 shares of the firm’s 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 transaction, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian C. Evanko sold 4,795 shares of the firm’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 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. Over the last ninety days, insiders sold 22,988 shares of company stock worth $7,975,726. Corporate insiders own 0.60% of the company’s stock.

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.