Capital Investment Advisors LLC Has $412,000 Stake in The Cigna Group (NYSE:CI)

Capital Investment Advisors LLC increased its position in The Cigna Group (NYSE:CI) by 5.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,188 shares of the health services provider’s stock after buying an additional 66 shares during the period. Capital Investment Advisors LLC’s holdings in The Cigna Group were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Capital Asset Advisory Services LLC boosted its stake in shares of The Cigna Group by 2.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after acquiring an additional 29 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares during the last quarter. IFG Advisors LLC raised its position in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares during the period. Finally, Capital Advisors Ltd. LLC raised its position in shares of The Cigna Group by 10.6% in the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 32 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, October 1st. Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group increased their target price 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, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $392.79.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 4.7 %

Shares of CI stock opened at $320.23 on Tuesday. The firm has a fifty day moving average of $350.50 and a 200-day moving average of $343.89. The stock has a market cap of $90.97 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 1.05 and a beta of 0.50. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. 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 (NYSE:CI) last posted its quarterly earnings results 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 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 company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.13 earnings per share. On average, equities research analysts forecast 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 was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.75%. The Cigna Group’s dividend payout ratio is currently 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.