Angeles Wealth Management LLC Boosts Holdings in The Cigna Group (NYSE:CI)

Angeles Wealth Management LLC raised its position in The Cigna Group (NYSE:CI) by 30.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,418 shares of the health services provider’s stock after buying an additional 329 shares during the quarter. Angeles Wealth Management LLC’s holdings in The Cigna Group were worth $491,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Cedar Wealth Management LLC purchased a new stake in The Cigna Group during the first quarter worth about $29,000. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group in the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC boosted its holdings in 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 worth $36,000 after acquiring an additional 100 shares during the period. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the third quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group in the second quarter valued at about $66,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays raised their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday. Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. raised their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $392.29.

The Cigna Group Stock Performance

CI traded up $1.68 during midday trading on Friday, reaching $316.49. The company’s stock had a trading volume of 2,810,769 shares, compared to its average volume of 1,526,703. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The stock has a market cap of $88.47 billion, a P/E ratio of 24.90, a PEG ratio of 0.95 and a beta of 0.50. The company has a fifty day simple moving average of $345.77 and a 200 day simple moving average of $341.51. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the business earned $6.77 earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.48 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 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is 44.06%.

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.