The Cigna Group (NYSE:CI) Position Increased by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its stake in The Cigna Group (NYSE:CI) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,849 shares of the health services provider’s stock after buying an additional 91 shares during the period. Bleakley Financial Group LLC’s holdings in The Cigna Group were worth $2,373,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group in the first quarter worth approximately $29,000. TruNorth Capital Management LLC acquired a new position in The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC grew its position in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group during the 2nd quarter valued at $66,000. Finally, Private Ocean LLC boosted its position in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Down 4.8 %

Shares of The Cigna Group stock opened at $336.00 on Friday. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average price of $350.66 and a two-hundred day moving average price of $344.42. The stock has a market capitalization of $95.45 billion, a P/E ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion for 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 Cigna Group’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business posted $6.13 EPS. Equities analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CI shares. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Jefferies Financial Group upped their price target 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 research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $392.79.

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.