Assetmark Inc. Grows Position in The Cigna Group (NYSE:CI)

Assetmark Inc. grew its position in shares of The Cigna Group (NYSE:CI) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 268,056 shares of the health services provider’s stock after purchasing an additional 4,847 shares during the quarter. Assetmark Inc.’s holdings in The Cigna Group were worth $92,865,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its position in The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares during the period. IFG Advisors LLC increased its stake in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after purchasing an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in The Cigna Group by 4.7% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after acquiring an additional 31 shares during the period. Finally, Capital Investment Advisors LLC raised its stake in shares of The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after purchasing an additional 32 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CI shares. JPMorgan Chase & Co. increased their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays raised their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $394.64.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $319.83 on Friday. 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 has a market cap of $88.96 billion, a PE ratio of 30.17, a PEG ratio of 0.95 and a beta of 0.51. The company’s fifty day moving average is $341.73 and its 200 day moving average is $340.43. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. Research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 1.75%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

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.