Global Assets Advisory LLC Makes New $209,000 Investment in The Cigna Group (NYSE:CI)

Global Assets Advisory LLC purchased a new stake in The Cigna Group (NYSE:CI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 600 shares of the health services provider’s stock, valued at approximately $209,000.

Several other hedge funds also recently modified their holdings of CI. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the 1st quarter worth approximately $29,000. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the second quarter worth $33,000. Ulland Investment Advisors LLC increased its holdings in The Cigna Group by 2,500.0% in the third 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 during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group during the 2nd quarter worth $66,000. Finally, Private Ocean LLC lifted its holdings in The Cigna Group by 29.9% during the 2nd 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.

Insider Activity

In related 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $318.24 on Friday. The business’s fifty day moving average is $349.85 and its 200 day moving average is $343.40. 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 market cap of $90.40 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.05 and a beta of 0.50.

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 for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm 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 business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $6.13 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Finally, Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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.