Valley Wealth Managers Inc. Acquires 312 Shares of The Cigna Group (NYSE:CI)

Valley Wealth Managers Inc. lifted its holdings in The Cigna Group (NYSE:CI) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,385 shares of the health services provider’s stock after acquiring an additional 312 shares during the period. Valley Wealth Managers Inc.’s holdings in The Cigna Group were worth $19,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CI. Avantax Advisory Services Inc. grew its stake in shares of The Cigna Group by 8.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,612 shares of the health services provider’s stock valued at $1,312,000 after buying an additional 284 shares during the period. Lord Abbett & CO. LLC boosted its stake in The Cigna Group by 43.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 3,969 shares of the health services provider’s stock valued at $1,441,000 after purchasing an additional 1,211 shares during the last quarter. Banco Santander S.A. boosted its stake in The Cigna Group by 379.4% during the 1st quarter. Banco Santander S.A. now owns 7,153 shares of the health services provider’s stock valued at $2,598,000 after purchasing an additional 5,661 shares during the last quarter. M&G Plc acquired a new position in The Cigna Group during the 1st quarter valued at about $8,648,000. Finally, Mizuho Markets Americas LLC acquired a new position in The Cigna Group during the 1st quarter valued at about $4,389,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

CI stock traded down $2.09 during midday trading on Friday, reaching $321.79. 171,258 shares of the company’s stock traded hands, compared to its average volume of 1,538,872. The company has a 50-day moving average price of $339.52 and a two-hundred day moving average price of $339.91. 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 Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The firm has a market capitalization of $89.51 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.77 earnings per share. As a group, equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The Cigna Group’s payout ratio is currently 52.83%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The trade was a 13.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Piper Sandler reiterated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target 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. Finally, Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.