Global Assets Advisory LLC Acquires Shares of 600 The Cigna Group (NYSE:CI)

Global Assets Advisory LLC purchased a new position in The Cigna Group (NYSE:CI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 600 shares of the health services provider’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Cedar Wealth Management LLC purchased a new stake in The Cigna Group in the first quarter worth $29,000. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group during the 2nd quarter worth $33,000. Ulland Investment Advisors LLC increased its holdings in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group in the 2nd quarter valued at about $66,000. Finally, Private Ocean LLC lifted its holdings in The Cigna Group by 29.9% during the second 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 hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $318.24 on Friday. The firm has a market capitalization of $90.40 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. 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 $370.83. The business’s 50-day moving average price is $349.85 and its 200-day moving average price is $343.40.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $6.13 EPS. Sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.76%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Barclays raised their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Jefferies Financial Group boosted their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target 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 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 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by company insiders.

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.