Concord Asset Management LLC VA Acquires 110 Shares of The Cigna Group (NYSE:CI)

Concord Asset Management LLC VA lifted its holdings in shares of The Cigna Group (NYSE:CI) by 11.4% during the 3rd quarter, Holdings Channel reports. The firm owned 1,075 shares of the health services provider’s stock after purchasing an additional 110 shares during the quarter. Concord Asset Management LLC VA’s holdings in The Cigna Group were worth $372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group during the 1st quarter valued at about $29,000. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC boosted its position in shares of 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 valued at $36,000 after purchasing an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group during the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group in the second quarter worth approximately $66,000. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $394.64.

The Cigna Group Stock Down 0.7 %

CI stock opened at $321.52 on Friday. The Cigna Group has a twelve month low of $253.95 and a twelve month 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’s 50 day moving average is $338.88 and its 200-day moving average is $339.55. The firm has a market capitalization of $89.43 billion, a PE ratio of 30.33, a P/E/G ratio of 0.97 and a beta of 0.51.

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

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group 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 sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 13.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by corporate insiders.

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.