Aptus Capital Advisors LLC Boosts Holdings in The Cigna Group (NYSE:CI)

Aptus Capital Advisors LLC grew its stake in The Cigna Group (NYSE:CI) by 15.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,549 shares of the health services provider’s stock after buying an additional 348 shares during the quarter. Aptus Capital Advisors LLC’s holdings in The Cigna Group were worth $843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The Cigna Group during the 4th quarter worth approximately $1,006,348,000. Vanguard Group Inc. boosted its holdings in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after buying an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after buying an additional 867,180 shares in the last quarter. Focused Investors Fund L P acquired a new stake in The Cigna Group during the first quarter valued at $205,529,000. Finally, Swedbank AB purchased a new position in The Cigna Group in the first quarter valued at $161,300,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.2 %

Shares of NYSE CI opened at $361.81 on Tuesday. The stock has a market cap of $102.78 billion, a PE ratio of 29.71, a P/E/G ratio of 1.10 and a beta of 0.52. 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 12-month low of $253.95 and a 12-month high of $365.71. The company has a 50-day moving average of $338.62 and a 200 day moving average of $343.09.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (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 during the quarter, compared to analysts’ expectations of $58.30 billion. During the same period in the prior year, the business earned $6.13 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is presently 45.98%.

Analyst Ratings Changes

Several research firms have recently issued reports on CI. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Monday, August 19th. Finally, Robert W. Baird initiated coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $384.86.

Insider Buying and Selling

In other news, Director Elder Granger sold 547 shares of the company’s 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 approximately $1,812,979.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elder Granger sold 547 shares of the company’s 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 in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,033 shares of company stock worth $3,095,820. 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.