Summit Trail Advisors LLC Increases Stock Position in The Cigna Group (NYSE:CI)

Summit Trail Advisors LLC lifted its position in The Cigna Group (NYSE:CI) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,034 shares of the health services provider’s stock after buying an additional 357 shares during the quarter. Summit Trail Advisors LLC’s holdings in The Cigna Group were worth $705,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CI. Checchi Capital Advisers LLC boosted its holdings in shares of The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after buying an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares during the period. IFG Advisors LLC grew its holdings in shares of 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 acquiring an additional 31 shares during the period. McClarren Financial Advisors Inc. grew its holdings in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after purchasing an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CI. Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Barclays lifted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reduced 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 report on Monday, November 4th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Trading Up 1.3 %

NYSE CI opened at $332.73 on Tuesday. The stock has a 50 day moving average of $334.74 and a 200-day moving average of $338.63. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company has a market cap of $92.55 billion, a PE ratio of 31.39, a PEG ratio of 0.99 and a beta of 0.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping 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 company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. The business’s revenue was up 29.8% on a year-over-year basis. On average, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 dividend on an annualized basis and a yield of 1.68%. The Cigna Group’s payout ratio is presently 52.83%.

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.