Nisa Investment Advisors LLC Has $41.08 Million Stock Position in The Cigna Group (NYSE:CI)

Nisa Investment Advisors LLC raised its stake in shares of The Cigna Group (NYSE:CI) by 7.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 118,582 shares of the health services provider’s stock after acquiring an additional 8,662 shares during the quarter. Nisa Investment Advisors LLC’s holdings in The Cigna Group were worth $41,082,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group in the first quarter worth $29,000. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter worth $33,000. Ulland Investment Advisors LLC lifted its position in 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 acquiring an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the second quarter valued at about $66,000. Finally, Private Ocean LLC grew its position in shares of The Cigna Group by 29.9% in 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. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on 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 target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $392.79.

Insiders Place Their Bets

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

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $314.92 on Tuesday. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The firm’s 50-day moving average price is $348.42 and its two-hundred day moving average price is $342.46. 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 stock has a market capitalization of $89.46 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $6.13 EPS. On average, equities analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is presently 45.98%.

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.