United Asset Strategies Inc. Grows Stock Holdings in The Cigna Group (NYSE:CI)

United Asset Strategies Inc. grew its holdings in The Cigna Group (NYSE:CI) by 2.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 48,145 shares of the health services provider’s stock after acquiring an additional 1,168 shares during the period. The Cigna Group accounts for approximately 1.6% of United Asset Strategies Inc.’s investment portfolio, making the stock its 15th biggest holding. United Asset Strategies Inc.’s holdings in The Cigna Group were worth $16,679,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the 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 transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on CI shares. JPMorgan Chase & Co. lifted their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Barclays upped their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Performance

Shares of CI stock traded up $7.81 on Thursday, hitting $320.70. The company had a trading volume of 1,241,417 shares, compared to its average volume of 1,509,881. The firm has a market cap of $91.10 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a 50-day moving average price of $347.15 and a 200-day moving average price of $341.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter last year, the firm posted $6.13 EPS. The business’s revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.75%. The Cigna Group’s dividend payout ratio is presently 45.98%.

The Cigna Group 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.