The Cigna Group (NYSE:CI) Shares Purchased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC raised its stake in The Cigna Group (NYSE:CI) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,914 shares of the health services provider’s stock after buying an additional 57 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in The Cigna Group were worth $1,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the first quarter worth about $29,000. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC lifted its holdings in 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 acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of The Cigna Group during the 2nd quarter worth $66,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of CI opened at $315.09 on Thursday. The firm has a market capitalization of $87.64 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 0.96 and a beta of 0.51. The firm’s fifty day simple moving average is $343.37 and its 200-day simple moving average is $340.80. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. 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 released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) 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 business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the prior year, the firm posted $6.77 EPS. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed 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 is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.78%. The Cigna Group’s dividend payout ratio is presently 52.83%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the business’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 completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CI shares. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $394.64.

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.