The Cigna Group (NYSE:CI) Shares Bought by BluePath Capital Management LLC

BluePath Capital Management LLC raised its stake in The Cigna Group (NYSE:CI) by 25.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,350 shares of the health services provider’s stock after acquiring an additional 471 shares during the quarter. BluePath Capital Management LLC’s holdings in The Cigna Group were worth $814,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kovack Advisors Inc. purchased a new stake in shares of The Cigna Group in the first quarter valued at $214,000. Ashton Thomas Private Wealth LLC grew its position in shares of The Cigna Group by 4.1% in the first quarter. Ashton Thomas Private Wealth LLC now owns 3,012 shares of the health services provider’s stock valued at $1,094,000 after purchasing an additional 119 shares during the period. Norden Group LLC grew its position in shares of The Cigna Group by 22.3% in the first quarter. Norden Group LLC now owns 2,355 shares of the health services provider’s stock valued at $855,000 after purchasing an additional 429 shares during the period. Mission Wealth Management LP grew its position in shares of The Cigna Group by 9.9% in the first quarter. Mission Wealth Management LP now owns 1,010 shares of the health services provider’s stock valued at $367,000 after purchasing an additional 91 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of The Cigna Group by 21.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock valued at $34,304,000 after purchasing an additional 16,846 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday. Finally, Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $392.29.

The Cigna Group Trading Up 0.6 %

NYSE:CI opened at $316.70 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The business’s 50-day simple moving average is $345.77 and its 200 day simple moving average is $341.55. The stock has a market cap of $88.53 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 0.95 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. The company’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 44.06%.

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.