Copley Financial Group Inc. Buys New Shares in The Cigna Group (NYSE:CI)

Copley Financial Group Inc. purchased a new position in The Cigna Group (NYSE:CI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,249 shares of the health services provider’s stock, valued at approximately $433,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CI. Van ECK Associates Corp raised its stake in The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after purchasing an additional 625 shares during the period. Marks Group Wealth Management Inc raised its position in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of The Cigna Group by 3.2% in the second quarter. Raymond James & Associates now owns 602,339 shares of the health services provider’s stock worth $199,115,000 after buying an additional 18,733 shares in the last quarter. Trinity Street Asset Management LLP boosted its position in shares of The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after acquiring an additional 5,397 shares during the last quarter. Finally, OFI Invest Asset Management grew its stake in The Cigna Group by 3,886.9% during the second quarter. OFI Invest Asset Management now owns 3,947 shares of the health services provider’s stock valued at $1,217,000 after acquiring an additional 3,848 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Down 0.5 %

NYSE:CI traded down $1.30 during mid-day trading on Friday, hitting $281.66. 426,703 shares of the stock traded hands, compared to its average volume of 1,569,640. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 52 week low of $279.88 and a 52 week high of $370.83. The stock has a market capitalization of $78.34 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 0.88 and a beta of 0.50. The firm’s 50 day moving average is $327.65 and its two-hundred day moving average is $337.08.

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 for the quarter, topping 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 the consensus estimate of $59.58 billion. During the same period in the prior year, the business posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Barclays increased 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. Deutsche Bank Aktiengesellschaft reduced their price objective on 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. Jefferies Financial Group increased their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target 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.