Sequoia Financial Advisors LLC Grows Stock Holdings in The Cigna Group (NYSE:CI)

Sequoia Financial Advisors LLC lifted its holdings in The Cigna Group (NYSE:CI) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,948 shares of the health services provider’s stock after acquiring an additional 322 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in The Cigna Group were worth $1,714,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CI. Mattern Wealth Management LLC purchased a new position in shares of The Cigna Group during the 3rd quarter valued at about $204,000. Foundations Investment Advisors LLC grew its holdings in The Cigna Group by 125.6% during the third quarter. Foundations Investment Advisors LLC now owns 3,116 shares of the health services provider’s stock worth $1,079,000 after acquiring an additional 1,735 shares during the period. Whittier Trust Co. raised its position in The Cigna Group by 0.7% during the third quarter. Whittier Trust Co. now owns 6,710 shares of the health services provider’s stock valued at $2,325,000 after acquiring an additional 45 shares in the last quarter. Western Financial Corp CA lifted its holdings in The Cigna Group by 7.6% in the third quarter. Western Financial Corp CA now owns 2,310 shares of the health services provider’s stock valued at $800,000 after acquiring an additional 163 shares during the period. Finally, Bellecapital International Ltd. purchased a new stake in The Cigna Group in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.2 %

Shares of NYSE:CI opened at $318.24 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a market cap of $90.40 billion, a P/E ratio of 26.13, a PEG ratio of 1.05 and a beta of 0.50. The business has a fifty day moving average of $349.85 and a two-hundred day moving average of $343.40. 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 Cigna Group (NYSE:CI) last released its quarterly earnings data 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 analysts’ expectations 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 earned $6.13 earnings per share. On average, research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.76%. The Cigna Group’s payout ratio is 45.98%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. One research 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 data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $392.79.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was 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 approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.