Pure Financial Advisors LLC Cuts Stake in The Cigna Group (NYSE:CI)

Pure Financial Advisors LLC reduced its holdings in shares of The Cigna Group (NYSE:CI) by 18.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 845 shares of the health services provider’s stock after selling 195 shares during the period. Pure Financial Advisors LLC’s holdings in The Cigna Group were worth $279,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners increased its position 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 purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the 1st quarter valued at approximately $29,000. Raleigh Capital Management Inc. increased its position 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 purchasing an additional 41 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $37,000. Finally, Byrne Asset Management LLC acquired a new position in shares of The Cigna Group in the 1st quarter valued at $51,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of CI stock traded up $5.62 during mid-day trading on Friday, hitting $342.32. The stock had a trading volume of 865,340 shares, compared to its average volume of 1,563,398. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The firm has a market cap of $97.24 billion, a PE ratio of 28.11, a PEG ratio of 1.02 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50-day simple moving average is $335.15 and its 200-day simple moving average is $340.77.

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

The Cigna Group Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity

In other news, Director Elder Granger sold 1,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Elder Granger sold 1,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the firm’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 owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold 6,342 shares of company stock worth $2,173,668 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CI. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Robert W. Baird began coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $384.64.

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.