EverSource Wealth Advisors LLC Has $306,000 Stock Holdings in The Cigna Group (NYSE:CI)

EverSource Wealth Advisors LLC cut its holdings in The Cigna Group (NYSE:CI) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 859 shares of the health services provider’s stock after selling 123 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in The Cigna Group were worth $306,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in The Cigna Group during the fourth quarter worth $1,006,348,000. Vanguard Group Inc. increased its position in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD increased its position in The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares during the period. Focused Investors Fund L P bought a new position in The Cigna Group during the first quarter worth $205,529,000. Finally, Cerity Partners LLC boosted its stake in The Cigna Group by 1,039.4% during the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after buying an additional 538,274 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Elder Granger sold 547 shares of the 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 sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following 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. Insiders sold a total of 22,988 shares of company stock valued at $7,975,726 in the last ninety days. 0.60% of the stock is owned by insiders.

The Cigna Group Trading Up 1.4 %

NYSE:CI traded up $4.73 on Friday, hitting $337.33. 3,193,740 shares of the stock were exchanged, compared to its average volume of 1,247,865. The stock has a market capitalization of $95.83 billion, a price-to-earnings ratio of 27.70, 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 company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50-day moving average price is $335.80 and its 200 day moving average price is $338.95.

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

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analysts Set New Price Targets

A number of research firms have weighed in on CI. Piper Sandler began 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 target on the stock. Robert W. Baird began coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $379.06.

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.