Portside Wealth Group LLC Acquires 78 Shares of The Cigna Group (NYSE:CI)

Portside Wealth Group LLC grew its holdings in The Cigna Group (NYSE:CI) by 2.4% in the 3rd quarter, Holdings Channel reports. The fund owned 3,362 shares of the health services provider’s stock after purchasing an additional 78 shares during the quarter. Portside Wealth Group LLC’s holdings in The Cigna Group were worth $1,165,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. JB Capital LLC increased its stake in The Cigna Group by 1.5% during the 3rd quarter. JB Capital LLC now owns 9,377 shares of the health services provider’s stock worth $3,248,000 after purchasing an additional 137 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of The Cigna Group by 5.6% in the third quarter. Deseret Mutual Benefit Administrators now owns 751 shares of the health services provider’s stock valued at $260,000 after buying an additional 40 shares during the period. Montecito Bank & Trust boosted its holdings in shares of The Cigna Group by 138.2% in the third quarter. Montecito Bank & Trust now owns 1,989 shares of the health services provider’s stock valued at $689,000 after buying an additional 1,154 shares during the period. Principal Financial Group Inc. raised its holdings in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares during the period. Finally, Graypoint LLC lifted its position in The Cigna Group by 3.3% in the 3rd quarter. Graypoint LLC now owns 3,041 shares of the health services provider’s stock valued at $1,053,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.8 %

The Cigna Group stock opened at $320.77 on Friday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm has a market capitalization of $89.22 billion, a PE ratio of 30.26, a P/E/G ratio of 0.95 and a beta of 0.51. The company’s 50-day moving average is $343.37 and its 200-day moving average is $340.80. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (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 firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the company earned $6.77 earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada lowered their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday. 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. Barclays raised their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Jefferies Financial Group boosted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $394.64.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

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.