The Cigna Group (NYSE:CI) Shares Purchased by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp boosted its position in The Cigna Group (NYSE:CI) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,026 shares of the health services provider’s stock after purchasing an additional 259 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in The Cigna Group were worth $2,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CI. Silicon Valley Capital Partners increased its holdings in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group during the 1st quarter worth approximately $29,000. Raleigh Capital Management Inc. increased its stake in shares of 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 worth $30,000 after purchasing an additional 41 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group during the 2nd quarter worth approximately $33,000. Finally, Pineridge Advisors LLC purchased a new position in shares of The Cigna Group during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.2 %

Shares of NYSE:CI traded up $0.75 during midday trading on Friday, hitting $361.81. 1,148,195 shares of the company’s stock traded hands, compared to its average volume of 1,344,975. 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 has a market cap of $101.14 billion, a PE ratio of 29.71, a P/E/G ratio of 1.10 and a beta of 0.52. The firm’s fifty day moving average price is $338.24 and its two-hundred day moving average price is $342.90. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.13 EPS. On average, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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 paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.55%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Elder Granger sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 9,033 shares of company stock valued at $3,095,820 in the last quarter. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently 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 objective for the company. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Monday, August 19th. Barclays lifted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $384.86.

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.