GM Advisory Group LLC Purchases 65 Shares of The Cigna Group (NYSE:CI)

GM Advisory Group LLC grew its position in shares of The Cigna Group (NYSE:CI) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,616 shares of the health services provider’s stock after buying an additional 65 shares during the quarter. GM Advisory Group LLC’s holdings in The Cigna Group were worth $3,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after buying an additional 625 shares during the last quarter. Marks Group Wealth Management Inc increased its stake in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares during the last quarter. Hancock Whitney Corp raised its holdings in shares of The Cigna Group by 75.6% in the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after purchasing an additional 1,629 shares during the period. ORG Partners LLC purchased a new position in The Cigna Group in the second quarter valued at approximately $489,000. Finally, Tidal Investments LLC grew its holdings in The Cigna Group by 36.0% during the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI opened at $330.71 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a fifty day moving average of $336.15 and a 200 day moving average of $338.97. 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 capitalization of $91.99 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 0.97 and a beta of 0.51.

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, 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 firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the company posted $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, research analysts expect that The Cigna Group will post 28.5 EPS 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. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group boosted their target price 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. Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. One 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’s stock. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $394.64.

About The Cigna Group

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.