FCG Investment Co Buys 2,265 Shares of The Cigna Group (NYSE:CI)

FCG Investment Co increased its stake in shares of The Cigna Group (NYSE:CI) by 60.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,027 shares of the health services provider’s stock after purchasing an additional 2,265 shares during the quarter. The Cigna Group accounts for 1.4% of FCG Investment Co’s holdings, making the stock its 21st biggest holding. FCG Investment Co’s holdings in The Cigna Group were worth $2,088,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CI. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the first quarter valued at $29,000. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the second quarter worth about $33,000. Ulland Investment Advisors LLC boosted its position in shares of The Cigna Group by 2,500.0% during 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 during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group during the second quarter valued at approximately $66,000. Finally, Private Ocean LLC raised its holdings in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after buying an additional 46 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CI. Barclays upped their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $392.79.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Up 0.4 %

NYSE:CI opened at $318.00 on Monday. The company’s 50-day simple moving average is $348.97 and its 200-day simple moving average is $342.73. 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 has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a market capitalization of $90.34 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating 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 company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the prior year, the company posted $6.13 earnings per share. The Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.76%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

The Cigna Group Company 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.