United Capital Financial Advisors LLC acquired a new stake in Cigna Group (NYSE:CI – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,551 shares of the health services provider’s stock, valued at approximately $3,460,000.
A number of other hedge funds have also recently bought and sold shares of the company. Wilkerson Advisory Group LLC acquired a new position in Cigna Group in the fourth quarter valued at $25,000. Osbon Capital Management LLC acquired a new stake in Cigna Group in the 2nd quarter worth about $26,000. Cedar Mountain Advisors LLC grew its holdings in Cigna Group by 161.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock valued at $29,000 after buying an additional 68 shares during the period. Johnson Financial Group Inc. purchased a new stake in Cigna Group in the 2nd quarter valued at about $29,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Cigna Group during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 86.99% of the company’s stock.
Cigna Group Stock Up 0.4%
CI opened at $278.89 on Friday. Cigna Group has a 1 year low of $239.51 and a 1 year high of $315.47. The firm has a 50 day moving average price of $283.52 and a 200 day moving average price of $281.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $73.69 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.96 and a beta of 0.29.
Cigna Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be given a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 8th. Cigna Group’s dividend payout ratio is 25.82%.
Analyst Ratings Changes
CI has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of Cigna Group from $355.00 to $361.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. UBS Group increased their price target on shares of Cigna Group from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Royal Bank Of Canada lifted their price target on shares of Cigna Group from $333.00 to $337.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Sanford C. Bernstein upped their price objective on Cigna Group from $371.00 to $381.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Finally, Cantor Fitzgerald increased their target price on Cigna Group from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Fifteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and a consensus target price of $339.45.
Read Our Latest Report on Cigna Group
Insiders Place Their Bets
In related news, CAO Jamie G. Kates sold 899 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $298.61, for a total value of $268,450.39. Following the completion of the sale, the chief accounting officer directly owned 2,368 shares in the company, valued at approximately $707,108.48. This represents a 27.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole S. Jones sold 2,677 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total value of $748,515.97. Following the transaction, the insider owned 25,880 shares in the company, valued at approximately $7,236,306.80. This represents a 9.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 23,012 shares of company stock valued at $6,386,550. 0.60% of the stock is owned by corporate insiders.
About Cigna Group
Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.
In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.
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