Meeder Advisory Services Inc. Raises Stock Position in The Cigna Group (NYSE:CI)

Meeder Advisory Services Inc. boosted its position in shares of The Cigna Group (NYSE:CI) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,205 shares of the health services provider’s stock after purchasing an additional 177 shares during the period. Meeder Advisory Services Inc.’s holdings in The Cigna Group were worth $1,527,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Silicon Valley Capital Partners raised its stake in shares of 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 acquiring an additional 35 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $29,000. Raleigh Capital Management Inc. raised its stake in shares of The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 41 shares during the period. VisionPoint Advisory Group LLC raised its stake in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the period. Finally, Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CI. Baird R W raised 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 issued an “overweight” rating and a $400.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, July 10th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price 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. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Stock Down 1.0 %

NYSE CI traded down $3.37 on Monday, hitting $331.42. 1,129,463 shares of the stock were exchanged, compared to its average volume of 1,600,024. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The company has a market cap of $94.15 billion, a PE ratio of 27.21, a PEG ratio of 1.02 and a beta of 0.52. The company has a 50-day moving average price of $335.98 and a 200-day moving average price of $335.80.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the prior year, the business posted $5.41 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts anticipate that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Activity

In other news, Director Elder Granger sold 547 shares of the company’s stock in a transaction on 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 transaction, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. 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 company’s stock in a transaction on Monday, June 17th. The shares were 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 owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,988 shares of company stock worth $7,975,726. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.