Marcum Wealth LLC Acquires 67 Shares of The Cigna Group (NYSE:CI)

Marcum Wealth LLC boosted its holdings in The Cigna Group (NYSE:CI) by 5.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,377 shares of the health services provider’s stock after purchasing an additional 67 shares during the quarter. Marcum Wealth LLC’s holdings in The Cigna Group were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CI. M&R Capital Management Inc. raised its holdings in shares of The Cigna Group by 4.3% during the 2nd quarter. M&R Capital Management Inc. now owns 2,494 shares of the health services provider’s stock worth $824,000 after acquiring an additional 102 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of The Cigna Group by 6.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 16,164 shares of the health services provider’s stock worth $5,343,000 after buying an additional 940 shares in the last quarter. GAMMA Investing LLC grew its position in shares of The Cigna Group by 27.1% during the 2nd quarter. GAMMA Investing LLC now owns 2,487 shares of the health services provider’s stock worth $822,000 after buying an additional 531 shares in the last quarter. Transcend Capital Advisors LLC boosted its position in The Cigna Group by 31.7% during the second quarter. Transcend Capital Advisors LLC now owns 4,890 shares of the health services provider’s stock valued at $1,617,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its position in The Cigna Group by 8.0% during the second quarter. Kathmere Capital Management LLC now owns 1,211 shares of the health services provider’s stock valued at $400,000 after purchasing an additional 90 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CI. Barclays increased their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday. Robert W. Baird initiated coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, July 10th. Finally, Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $381.00.

The Cigna Group Trading Down 3.4 %

Shares of CI traded down $11.45 during trading hours on Monday, hitting $325.88. The stock had a trading volume of 2,507,380 shares, compared to its average volume of 1,576,961. 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 firm has a market cap of $92.57 billion, a P/E ratio of 26.59, a P/E/G ratio of 1.02 and a beta of 0.52. The company’s fifty day simple moving average is $335.80 and its 200 day simple moving average is $339.17. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $6.13 earnings per share. Equities research analysts forecast that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.72%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock worth $7,975,726 over the last ninety days. Company insiders own 0.60% of the company’s stock.

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.