Trueblood Wealth Management LLC Acquires New Shares in The Cigna Group (NYSE:CI)

Trueblood Wealth Management LLC bought a new stake in The Cigna Group (NYSE:CI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 624 shares of the health services provider’s stock, valued at approximately $216,000.

Several other hedge funds also recently bought and sold shares of the company. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the first quarter worth approximately $29,000. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the second quarter worth approximately $33,000. Ulland Investment Advisors LLC increased its stake in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group during the 2nd quarter valued at $66,000. Finally, Private Ocean LLC lifted its stake in shares of The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday. Barclays raised their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $392.79.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s 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 transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by insiders.

The Cigna Group Trading Down 0.4 %

The Cigna Group stock opened at $316.85 on Friday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock has a market cap of $90.01 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The business has a 50 day moving average price of $348.97 and a two-hundred day moving average price of $342.83. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating 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 business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the company posted $6.13 earnings per share. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

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.