CreativeOne Wealth LLC Makes New Investment in The Cigna Group (NYSE:CI)

CreativeOne Wealth LLC acquired a new position in The Cigna Group (NYSE:CI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,251 shares of the health services provider’s stock, valued at approximately $454,000.

Other large investors have also added to or reduced their stakes in the company. Silicon Valley Capital Partners increased its stake 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 worth $25,000 after acquiring an additional 35 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the 1st quarter valued at approximately $29,000. Raleigh Capital Management Inc. increased its position 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 valued at $30,000 after purchasing an additional 41 shares during the last quarter. Pineridge Advisors LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at approximately $37,000. Finally, MeadowBrook Investment Advisors LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at approximately $43,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, Director Elder Granger sold 1,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,849,635.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the sale, the director now owns 5,471 shares in the company, valued at $1,849,635.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Up 0.7 %

NYSE:CI traded up $2.49 during mid-day trading on Friday, hitting $343.64. 1,135,664 shares of the company’s stock traded hands, compared to its average volume of 1,195,868. The company has a fifty day moving average of $334.97 and a 200 day moving average of $337.48. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The company has a market capitalization of $97.62 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.04 and a beta of 0.52. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last announced 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 return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the prior year, the company posted $5.41 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts forecast that The Cigna Group will post 28.47 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 issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Robert W. Baird assumed coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective for the company. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $376.20.

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.