Kovack Advisors Inc. Buys Shares of 589 The Cigna Group (NYSE:CI)

Kovack Advisors Inc. bought a new stake in The Cigna Group (NYSE:CIFree Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 589 shares of the health services provider’s stock, valued at approximately $214,000.

Other institutional investors also recently made changes to their positions in the company. Capital Asset Advisory Services LLC raised its position in shares of The Cigna Group by 2.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after acquiring an additional 29 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of The Cigna Group by 10.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after acquiring an additional 32 shares in the last quarter. First Financial Corp IN raised its position in shares of The Cigna Group by 17.2% during the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock valued at $82,000 after acquiring an additional 33 shares in the last quarter. Somerset Trust Co raised its position in shares of The Cigna Group by 1.6% during the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock valued at $802,000 after acquiring an additional 34 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC grew its stake in The Cigna Group by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock worth $333,000 after buying an additional 35 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on CI shares. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. Robert W. Baird began coverage on The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price target on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $376.20.

Get Our Latest Analysis on The Cigna Group

The Cigna Group Trading Down 1.9 %

Shares of CI stock opened at $319.14 on Friday. The stock has a 50-day simple moving average of $338.32 and a 200 day simple moving average of $333.92. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The stock has a market capitalization of $90.66 billion, a P/E ratio of 26.20, a P/E/G ratio of 0.99 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 (NYSE:CIGet Free Report) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter last year, the business posted $5.41 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Activity

In other news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of the 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 completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock valued at $7,975,726 over the last three months. Insiders own 0.70% of the company’s stock.

The Cigna Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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