Everhart Financial Group Inc. Grows Position in The Cigna Group (NYSE:CI)

Everhart Financial Group Inc. grew its stake in shares of The Cigna Group (NYSE:CI) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,536 shares of the health services provider’s stock after buying an additional 165 shares during the period. Everhart Financial Group Inc.’s holdings in The Cigna Group were worth $508,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Seizert Capital Partners LLC increased its position in The Cigna Group by 195.8% during the fourth quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock worth $9,627,000 after buying an additional 21,280 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of The Cigna Group by 98,980.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock worth $1,497,000 after purchasing an additional 4,949 shares during the last quarter. Hancock Whitney Corp boosted its holdings in shares of The Cigna Group by 75.6% during the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after purchasing an additional 1,629 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of The Cigna Group by 63.5% during the fourth quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock worth $30,475,000 after purchasing an additional 39,530 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of The Cigna Group during the second quarter worth $489,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold 9,033 shares of company stock valued at $3,095,820 over the last three months. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CI. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Oppenheimer raised their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Barclays raised their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $384.86.

The Cigna Group Stock Up 2.2 %

NYSE:CI traded up $7.52 during mid-day trading on Friday, hitting $353.99. The company had a trading volume of 1,425,818 shares, compared to its average volume of 1,544,043. The business has a fifty day simple moving average of $336.09 and a 200-day simple moving average of $341.99. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The firm has a market capitalization of $100.56 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.02 and a beta of 0.52.

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

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.