Arkadios Wealth Advisors Grows Position in The Cigna Group (NYSE:CI)

Arkadios Wealth Advisors boosted its holdings in The Cigna Group (NYSE:CI) by 284.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,882 shares of the health services provider’s stock after buying an additional 2,872 shares during the quarter. Arkadios Wealth Advisors’ holdings in The Cigna Group were worth $1,345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Checchi Capital Advisers LLC lifted its position in The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after purchasing an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after buying an additional 31 shares during the period. IFG Advisors LLC boosted its stake in shares of The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after buying an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after acquiring an additional 31 shares during the period. Finally, Capital Advisors Ltd. LLC increased its position in The Cigna Group by 10.6% during the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the 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 transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Barclays increased their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Down 0.4 %

Shares of CI opened at $316.85 on Monday. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. 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 company has a market capitalization of $90.01 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The business’s 50 day moving average is $348.97 and its 200 day moving average is $342.73.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter last year, the business posted $6.13 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. 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 company also recently disclosed 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 is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The Cigna Group’s payout ratio is 45.98%.

About The Cigna Group

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.