Shares of Cigna Group (NYSE:CI) sold by Seven Springs Wealth Group LLC

VaselineSeptember 1, 2024

0 4 minutes read

Seven Springs Wealth Group LLC lessened its holdings in The Cigna Group (NYSE:CI – Free Report) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,254 shares of the health services provider’s stock after selling 8,339 shares during the period. Cigna Group makes up approximately 16.3% of Seven Springs Wealth Group LLC’s portfolio, making the stock its 2nd biggest holding. Seven Springs Wealth Group LLC’s holdings in The Cigna Group were worth $41,736,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners boosted its holdings in The Cigna Group by 100.0% in 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. Cedar Wealth Management LLC acquired a new position in shares of The Cigna Group in the first quarter worth $29,000. Raleigh Capital Management Inc. boosted its position in shares of The Cigna Group by 69.5% during the fourth 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 during the period. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group in the second quarter valued at $33,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at $37,000. 86.99% of the shares are currently held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

CI has been the subject of a number of analyst research reports. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird initiated coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. Baird RW upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Barclays upped their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Cigna Group has a consensus rating of “Buy” and an average price target of $384.86, according to MarketBeat.com .

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See Cigna Group’s latest research report

Insider Trading at The Cigna Group

In related news, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other The Cigna Group 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 stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director Elder Granger sold 1,000 shares of The Cigna Group stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at $1,849,635.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,033 shares of company stock worth $3,095,820. Company insiders own 0.60% of the company’s shares.

Cigna Group’s price performance

Shares of NYSE:CI opened at $361.81 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71, and a quick ratio of 0.71. Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The firm has a market cap of $102.78 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.02 and a beta of 0.52. The company’s fifty day moving average price is $338.24 and its 200 day moving average price is $342.86.

Cigna Group (NYSE:CI – Get Free Report ) last announced its earnings results on Thursday, August 1st. The healthcare provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the firm posted earnings of $6.13 per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, sell-side analysts predict that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

Cigna Group’s dividend announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, September 4. This represents a dividend of $5.60 on an annualized basis and a dividend yield of 1.55%. Cigna Group’s payout ratio is 45.98%.

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 timely health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution and delivery solutions, and care management for health plans, employers, government organizations and medical service providers.