WFA of San Diego LLC acquired a new position in shares of The Cigna Group (NYSE:CI – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 146 shares of the health services provider’s stock, valued at approximately $41,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Kalos Management Inc. bought a new position in The Cigna Group in the first quarter valued at $27,000. MBM Wealth Consultants LLC bought a new position in The Cigna Group in the fourth quarter valued at $36,000. Activest Wealth Management bought a new position in The Cigna Group in the second quarter valued at $34,000. McClarren Financial Advisors Inc. grew its position in The Cigna Group by 672.2% in the second quarter. McClarren Financial Advisors Inc. now owns 139 shares of the health services provider’s stock valued at $39,000 after purchasing an additional 121 shares in the last quarter. Finally, Archer Investment Corp grew its position in The Cigna Group by 1,038.5% in the second quarter. Archer Investment Corp now owns 148 shares of the health services provider’s stock valued at $42,000 after purchasing an additional 135 shares in the last quarter. 85.32% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CI has been the subject of a number of analyst reports. Bank of America raised their target price on shares of The Cigna Group from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Cantor Fitzgerald lifted their price objective on shares of The Cigna Group from $310.00 to $334.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Edward Jones cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $327.00 price target on shares of The Cigna Group in a report on Wednesday, November 15th. Finally, Wells Fargo & Company upped their price objective on The Cigna Group from $284.00 to $300.00 in a research note on Wednesday, August 9th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $336.40.
The Cigna Group Price Performance
Shares of NYSE CI opened at $284.30 on Tuesday. The firm has a market cap of $83.19 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.02 and a beta of 0.65. The business’s 50 day moving average is $294.97 and its 200-day moving average is $281.73. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $340.11.
The Cigna Group (NYSE:CI – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The health services provider reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.68 by $0.09. The firm had revenue of $49.05 billion for the quarter, compared to analysts’ expectations of $48.14 billion. The Cigna Group had a return on equity of 12.62% and a net margin of 2.79%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.04 EPS. Equities research analysts predict that The Cigna Group will post 24.82 earnings per share for the current year.
The Cigna Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th will be issued a $1.23 dividend. This represents a $4.92 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, December 5th. The Cigna Group’s dividend payout ratio is currently 27.75%.
Insiders Place Their Bets
In other The Cigna Group news, EVP Cynthia Ryan sold 3,768 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total transaction of $1,063,404.96. Following the transaction, the executive vice president now owns 5,503 shares in the company, valued at approximately $1,553,056.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.
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.
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