Graypoint LLC Boosts Holdings in The Cigna Group (NYSE:CI)

Graypoint LLC grew its holdings in shares of The Cigna Group (NYSE:CI) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,041 shares of the health services provider’s stock after acquiring an additional 96 shares during the quarter. Graypoint LLC’s holdings in The Cigna Group were worth $1,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the 1st quarter valued at $29,000. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its stake in shares of 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 during the period. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of The Cigna Group in the second quarter worth $66,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Barclays increased their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday. Finally, Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $394.64.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the company’s 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 completion of the sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Performance

CI stock opened at $320.77 on Friday. The stock’s 50 day simple moving average is $343.37 and its 200 day simple moving average is $340.80. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The stock has a market capitalization of $89.22 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 0.95 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the firm posted $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. As a group, research analysts forecast 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. Investors of record on Wednesday, December 4th will be given 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 1.75%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

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.