CacheTech Inc. Acquires 362 Shares of The Cigna Group (NYSE:CI)

CacheTech Inc. increased its holdings in shares of The Cigna Group (NYSE:CI) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,803 shares of the health services provider’s stock after acquiring an additional 362 shares during the quarter. CacheTech Inc.’s holdings in The Cigna Group were worth $2,703,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Checchi Capital Advisers LLC grew its position in The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after acquiring an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of The Cigna Group by 1.4% in the 2nd 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 in the last quarter. IFG Advisors LLC grew its holdings in shares of The Cigna Group by 4.6% during the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of The Cigna Group by 4.7% during the 3rd 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 lifted its stake in The Cigna Group by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now directly owns 17,539 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Stock Up 0.6 %

Shares of The Cigna Group stock opened at $316.70 on Friday. The firm has a market cap of $88.53 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 0.95 and a beta of 0.50. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The stock’s 50-day moving average is $345.77 and its 200 day moving average is $341.55. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the business posted $6.77 EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 44.06%.

Analysts Set New Price Targets

A number of analysts have weighed in on CI shares. Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday. Barclays boosted their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $392.29.

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.