Highline Wealth Partners LLC Invests $665,000 in The Cigna Group (NYSE:CI)

Highline Wealth Partners LLC bought a new stake in shares of The Cigna Group (NYSE:CI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,919 shares of the health services provider’s stock, valued at approximately $665,000.

Several other large investors also recently added to or reduced their stakes in the business. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group during the 1st quarter worth $29,000. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter worth $33,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the second quarter valued at about $66,000. Finally, Private Ocean LLC increased its position in The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after buying an additional 46 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Performance

NYSE CI opened at $312.89 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The business has a 50 day simple moving average of $347.73 and a two-hundred day simple moving average of $342.16. The stock has a market capitalization of $88.88 billion, a PE ratio of 25.31, a P/E/G ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its earnings results 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 during 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 Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $6.13 earnings per share. On average, research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 45.98%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CI. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group raised their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $392.79.

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.