Net Worth Advisory Group Makes New Investment in The Cigna Group (NYSE:CI)

Net Worth Advisory Group bought a new stake in The Cigna Group (NYSE:CI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,413 shares of the health services provider’s stock, valued at approximately $1,182,000.

A number of other hedge funds have also made changes to their positions in the stock. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group during the first quarter worth $29,000. TruNorth Capital Management LLC acquired a new position in The Cigna Group in the 2nd quarter worth about $33,000. Ulland Investment Advisors LLC raised 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group during the 2nd quarter valued at about $66,000. Finally, Private Ocean LLC grew 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 buying an additional 46 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 4.8 %

Shares of The Cigna Group stock opened at $336.00 on Friday. The company has a market cap of $95.45 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company’s fifty day simple moving average is $350.66 and its 200-day simple moving average is $344.42. 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 (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the previous year, the firm posted $6.13 EPS. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler initiated coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Finally, Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average 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 Cigna Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

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.