Mesirow Financial Investment Management Inc. Grows Position in The Cigna Group (NYSE:CI)

Mesirow Financial Investment Management Inc. increased its stake in shares of The Cigna Group (NYSE:CI) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,497 shares of the health services provider’s stock after purchasing an additional 139 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in The Cigna Group were worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group in the first quarter worth approximately $29,000. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group in the 2nd quarter worth about $33,000. Ulland Investment Advisors LLC lifted its stake in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter worth about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group in the second quarter valued at approximately $66,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 7.3 %

Shares of CI stock opened at $343.20 on Tuesday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $95.46 billion, a P/E ratio of 32.38, a P/E/G ratio of 0.96 and a beta of 0.51. The stock has a 50-day simple moving average of $341.73 and a 200 day simple moving average of $340.26.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the previous year, the firm posted $6.77 EPS. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, sell-side analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.63%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Insider Buying and Selling

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 value of $922,151.88. Following the completion of the sale, the director now 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CI. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $394.64.

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.