Brookstone Capital Management Has $464,000 Stake in The Cigna Group (NYSE:CI)

Brookstone Capital Management increased its holdings in shares of The Cigna Group (NYSE:CI) by 3.1% during the third quarter, Holdings Channel reports. The fund owned 1,338 shares of the health services provider’s stock after acquiring an additional 40 shares during the quarter. Brookstone Capital Management’s holdings in The Cigna Group were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after buying an additional 867,180 shares during the period. AQR Capital Management LLC grew its stake in The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares during the last quarter. Swedbank AB bought a new position in The Cigna Group in the 1st quarter valued at about $161,300,000. Finally, Ameriprise Financial Inc. lifted its position in The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after acquiring an additional 405,694 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In related 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 transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $350.30 on Monday. The company’s 50 day simple moving average is $348.81 and its 200 day simple moving average is $344.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The stock has a market capitalization of $99.51 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50.

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

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Analyst Ratings Changes

Several research firms have recently commented on CI. Barclays upped their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Tuesday, October 1st. Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $392.79.

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.