Bahl & Gaynor Inc. Has $423,000 Stock Holdings in The Cigna Group (NYSE:CI)

Bahl & Gaynor Inc. lessened its stake in shares of The Cigna Group (NYSE:CI) by 10.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,280 shares of the health services provider’s stock after selling 150 shares during the quarter. Bahl & Gaynor Inc.’s holdings in The Cigna Group were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LPL Financial LLC grew its position in The Cigna Group by 18.8% during the 2nd quarter. LPL Financial LLC now owns 148,596 shares of the health services provider’s stock worth $49,121,000 after acquiring an additional 23,504 shares during the last quarter. AGF Management Ltd. increased its stake in shares of The Cigna Group by 3.9% in the second quarter. AGF Management Ltd. now owns 8,543 shares of the health services provider’s stock valued at $2,824,000 after buying an additional 319 shares during the period. Factorial Partners LLC raised its holdings in The Cigna Group by 6.0% in the 2nd quarter. Factorial Partners LLC now owns 11,550 shares of the health services provider’s stock valued at $3,818,000 after buying an additional 650 shares during the last quarter. Vaughan David Investments LLC IL boosted its position in The Cigna Group by 0.4% during the 2nd quarter. Vaughan David Investments LLC IL now owns 141,857 shares of the health services provider’s stock worth $46,894,000 after buying an additional 540 shares during the period. Finally, MGO One Seven LLC grew its holdings in The Cigna Group by 19.7% during the 2nd quarter. MGO One Seven LLC now owns 3,613 shares of the health services provider’s stock worth $1,195,000 after acquiring an additional 594 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CI. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Piper Sandler assumed coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $387.00.

The Cigna Group Stock Up 1.2 %

CI stock opened at $362.19 on Friday. The stock’s 50 day simple moving average is $343.27 and its 200 day simple moving average is $344.04. The company has a market cap of $102.89 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.64.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the firm earned $6.13 earnings per share. The Cigna Group’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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 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%.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly 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 accessible through the SEC website. In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. Insiders have sold 8,033 shares of company stock worth $2,757,740 in the last quarter. Insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.