Janney Montgomery Scott LLC Has $10.97 Million Stock Position in The Cigna Group (NYSE:CI)

Janney Montgomery Scott LLC raised its holdings in The Cigna Group (NYSE:CI) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,664 shares of the health services provider’s stock after acquiring an additional 1,372 shares during the quarter. Janney Montgomery Scott LLC’s holdings in The Cigna Group were worth $10,970,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pure Financial Advisors LLC boosted its position in shares of The Cigna Group by 6.3% during the 3rd quarter. Pure Financial Advisors LLC now owns 898 shares of the health services provider’s stock worth $311,000 after purchasing an additional 53 shares in the last quarter. Private Wealth Partners LLC acquired a new position in The Cigna Group during the 3rd quarter worth approximately $355,000. Optas LLC boosted its holdings in The Cigna Group by 2.0% in the third quarter. Optas LLC now owns 5,108 shares of the health services provider’s stock worth $1,770,000 after acquiring an additional 99 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in shares of The Cigna Group by 1.7% during the third quarter. Princeton Global Asset Management LLC now owns 2,636 shares of the health services provider’s stock valued at $913,000 after acquiring an additional 43 shares in the last quarter. Finally, Symmetry Partners LLC raised its position in shares of The Cigna Group by 10.7% during the third quarter. Symmetry Partners LLC now owns 4,278 shares of the health services provider’s stock worth $1,482,000 after purchasing an additional 414 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The stock was 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 of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Trading Down 1.0 %

Shares of CI opened at $315.09 on Thursday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The business has a 50-day moving average of $343.37 and a 200 day moving average of $340.80. The firm has a market cap of $87.64 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the company earned $6.77 earnings per share. As a group, research analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.78%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

CI has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target 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, Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $394.64.

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.