Inspire Advisors LLC Acquires 48 Shares of The Cigna Group (NYSE:CI)

Inspire Advisors LLC lifted its holdings in shares of The Cigna Group (NYSE:CI) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 687 shares of the health services provider’s stock after buying an additional 48 shares during the period. Inspire Advisors LLC’s holdings in The Cigna Group were worth $238,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cedar Wealth Management LLC acquired a new position in The Cigna Group during the first quarter valued at approximately $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC grew its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in The Cigna Group during the second quarter worth $66,000. Finally, Private Ocean LLC raised its position in The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 4.8 %

CI stock opened at $336.00 on Friday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a market capitalization of $95.45 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The company’s 50-day simple moving average is $350.66 and its 200 day simple moving average is $344.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

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, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the prior year, the business posted $6.13 EPS. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The Cigna Group’s payout ratio is 45.98%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler started coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Finally, Barclays increased their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $392.79.

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.