The Cigna Group (NYSE:CI) Position Raised by Advisory Resource Group

Advisory Resource Group raised its holdings in shares of The Cigna Group (NYSE:CI) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,163 shares of the health services provider’s stock after purchasing an additional 263 shares during the period. Advisory Resource Group’s holdings in The Cigna Group were worth $4,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Checchi Capital Advisers LLC grew its position in shares of 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 valued at $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in The Cigna Group by 1.4% during the second 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 grew its position in The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. increased its holdings in shares of 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 worth $240,000 after purchasing an additional 31 shares during the period. Finally, Saxony Capital Management LLC raised its position in shares of The Cigna Group by 5.3% during the second quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock valued at $211,000 after buying an additional 32 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

The Cigna Group stock opened at $309.33 on Wednesday. The business’s fifty day moving average is $330.47 and its two-hundred day moving average is $337.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $86.04 billion, a P/E ratio of 29.37, a P/E/G ratio of 0.96 and a beta of 0.50. The Cigna Group has a 52 week low of $288.88 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 EPS. Equities research analysts forecast that The Cigna Group will post 28.49 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada decreased their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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. Jefferies Financial Group raised their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $394.64.

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.