Oppenheimer Asset Management Inc. Has $12.36 Million Position in The Cigna Group (NYSE:CI)

Oppenheimer Asset Management Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 15.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,393 shares of the health services provider’s stock after acquiring an additional 5,004 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The Cigna Group were worth $12,361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of The Cigna Group by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares during the period. TFO Wealth Partners LLC grew its stake in 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 acquiring an additional 4,949 shares during the period. Hancock Whitney Corp increased its holdings 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 worth $1,374,000 after acquiring an additional 1,629 shares in the last quarter. Bank of Nova Scotia raised its position in shares of The Cigna Group by 63.5% during the fourth quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock worth $30,475,000 after purchasing an additional 39,530 shares during the period. Finally, ORG Partners LLC bought a new position in shares of The Cigna Group during the 2nd quarter valued at about $489,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on 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 owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,033 shares of company stock valued at $2,757,740. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $364.72 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $101.96 billion, a P/E ratio of 29.94, a P/E/G ratio of 1.09 and a beta of 0.50. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.64. The stock has a 50 day moving average of $344.18 and a 200-day moving average of $344.22.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company earned $6.13 earnings per share. As a group, equities research analysts predict that The Cigna Group will post 28.48 EPS for the current 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 $1.40 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.54%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CI shares. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, September 10th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Piper Sandler assumed coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average 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.