Catalina Capital Group LLC Acquires 374 Shares of The Cigna Group (NYSE:CI)

Catalina Capital Group LLC boosted its holdings in shares of The Cigna Group (NYSE:CI) by 31.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,572 shares of the health services provider’s stock after acquiring an additional 374 shares during the quarter. Catalina Capital Group LLC’s holdings in The Cigna Group were worth $520,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Seizert Capital Partners LLC raised its position in shares of The Cigna Group by 195.8% in the fourth quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock valued at $9,627,000 after purchasing an additional 21,280 shares during the period. TFO Wealth Partners LLC raised its position in shares of The Cigna Group by 98,980.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock valued at $1,497,000 after purchasing an additional 4,949 shares during the period. Hancock Whitney Corp raised its position in shares of The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares during the period. Bank of Nova Scotia raised its stake in The Cigna Group by 63.5% during the 4th quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock valued at $30,475,000 after purchasing an additional 39,530 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in The Cigna Group during the 2nd quarter valued at $489,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, 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 value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. 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 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 sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold 9,033 shares of company stock worth $3,095,820 in the last ninety days. Company insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI traded up $7.52 during mid-day trading on Friday, reaching $353.99. 1,424,898 shares of the company were exchanged, compared to its average volume of 1,544,043. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The company has a fifty day moving average of $336.09 and a 200 day moving average of $341.99. 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 stock has a market cap of $100.56 billion, a PE ratio of 29.06, a PEG ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the prior year, the company posted $6.13 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. On average, research analysts anticipate that The Cigna Group will post 28.4 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. 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 dividend on an annualized basis and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio is 45.98%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CI. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. 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 target price for the company. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Barclays boosted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $384.86.

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.