Concurrent Investment Advisors LLC Raises Stake in The Cigna Group (NYSE:CI)

Concurrent Investment Advisors LLC boosted its holdings in The Cigna Group (NYSE:CI) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,064 shares of the health services provider’s stock after purchasing an additional 51 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in The Cigna Group were worth $1,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Foster & Motley Inc. boosted its holdings in The Cigna Group by 13.3% in the third quarter. Foster & Motley Inc. now owns 6,173 shares of the health services provider’s stock worth $2,139,000 after acquiring an additional 726 shares in the last quarter. Radnor Capital Management LLC bought a new position in The Cigna Group in the 3rd quarter worth about $5,444,000. Avidian Wealth Enterprises LLC grew its position in The Cigna Group by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,914 shares of the health services provider’s stock valued at $1,010,000 after purchasing an additional 57 shares during the last quarter. Marks Group Wealth Management Inc increased its stake in The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in The Cigna Group by 13.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,553 shares of the health services provider’s stock valued at $538,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 17,539 shares in the company, 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 SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CI. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Up 0.1 %

CI opened at $319.83 on Friday. The firm’s 50 day simple moving average is $341.73 and its two-hundred day simple moving average is $340.43. The company has a market capitalization of $88.96 billion, a PE ratio of 30.17, a PEG ratio of 0.95 and a beta of 0.51. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

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

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.75%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

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.