Bokf Na Boosts Position in The Cigna Group (NYSE:CI)

Bokf Na increased its stake in The Cigna Group (NYSE:CI) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,381 shares of the health services provider’s stock after buying an additional 673 shares during the period. Bokf Na’s holdings in The Cigna Group were worth $1,959,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CI. Silicon Valley Capital Partners increased its position in The Cigna Group by 100.0% during 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 period. Cedar Wealth Management LLC purchased a new position in The Cigna Group during the 1st quarter valued at about $29,000. Raleigh Capital Management Inc. increased its position 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 valued at $30,000 after purchasing an additional 41 shares during the period. Pineridge Advisors LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $37,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other news, Director Elder Granger sold 547 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Elder Granger sold 547 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,988 shares of company stock worth $7,975,726. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI traded up $2.49 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 current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. The firm’s 50-day moving average price is $334.97 and its two-hundred day moving average price is $337.65. The firm has a market capitalization of $97.62 billion, a PE ratio of 28.21, a P/E/G ratio of 1.05 and a beta of 0.52.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 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 period in the previous year, the business posted $5.41 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, analysts expect that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders 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 1.63%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CI. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, July 10th. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Oppenheimer lifted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $376.20.

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.