SYM FINANCIAL Corp Makes New $378,000 Investment in The Cigna Group (NYSE:CI)

SYM FINANCIAL Corp acquired a new position in shares of The Cigna Group (NYSE:CI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,144 shares of the health services provider’s stock, valued at approximately $378,000.

Several other hedge funds have also made changes to their positions in the company. Silicon Valley Capital Partners increased its holdings 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 purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the 1st quarter valued at $29,000. Raleigh Capital Management Inc. lifted 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 worth $30,000 after acquiring an additional 41 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter worth $33,000. Finally, Pineridge Advisors LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.2 %

CI stock opened at $362.19 on Friday. The Cigna Group has a one year low of $253.95 and a one year high of $370.64. The company has a 50 day moving average price of $343.27 and a two-hundred day moving average price of $344.04. 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 stock has a market capitalization of $101.25 billion, a P/E ratio of 29.74, a PEG ratio of 1.09 and a beta of 0.50.

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 for the quarter, topping the consensus estimate 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 business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the firm posted $6.13 EPS. The company’s revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts expect that The Cigna Group will post 28.48 EPS 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. Stockholders of record on Wednesday, September 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

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 value of $181,264.86. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s 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 completion of the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Elder Granger sold 547 shares of the stock in a transaction 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 sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,033 shares of company stock worth $2,757,740. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on CI shares. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. StockNews.com raised 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 started 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. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $387.00.

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.