Empirical Finance LLC Grows Holdings in The Cigna Group (NYSE:CI)

Empirical Finance LLC lifted its position in shares of The Cigna Group (NYSE:CI) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,155 shares of the health services provider’s stock after acquiring an additional 347 shares during the quarter. Empirical Finance LLC’s holdings in The Cigna Group were worth $4,051,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CI. Silicon Valley Capital Partners lifted its holdings in The Cigna Group by 100.0% during the first 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 in the last quarter. Fortitude Family Office LLC purchased a new position in The Cigna Group in the 4th quarter valued at about $29,000. Raleigh Capital Management Inc. increased its stake 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 worth $30,000 after buying an additional 41 shares in the last quarter. VisionPoint Advisory Group LLC raised its holdings in shares of The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.4 %

CI stock traded up $1.23 during midday trading on Friday, hitting $334.79. The company’s stock had a trading volume of 817,454 shares, compared to its average volume of 1,603,542. The firm has a 50-day simple moving average of $336.33 and a 200-day simple moving average of $334.82. The firm has a market capitalization of $95.10 billion, a P/E ratio of 27.48, a PEG ratio of 1.01 and a beta of 0.52. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $5.41 EPS. As a group, equities analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. JPMorgan Chase & Co. boosted 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. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Oppenheimer upped their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $376.20.

Insider Activity

In related news, Director Elder Granger sold 547 shares of the stock in a transaction 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 transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Elder Granger sold 547 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Noelle K. Eder sold 10,700 shares of the firm’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 transaction, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is currently owned by corporate insiders.

About The Cigna Group

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.