SteelPeak Wealth LLC Buys Shares of 619 The Cigna Group (NYSE:CI)

SteelPeak Wealth LLC bought a new stake in The Cigna Group (NYSE:CI) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 619 shares of the health services provider’s stock, valued at approximately $214,000.

Other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in The Cigna Group by 4.4% in 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 buying an additional 625 shares during the period. Hancock Whitney Corp grew its holdings in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares during the last quarter. ORG Partners LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at approximately $489,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of The Cigna Group by 21.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock valued at $34,304,000 after purchasing an additional 16,846 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of The Cigna Group by 36.0% during the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday. Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One research 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. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $392.29.

The Cigna Group Stock Up 0.6 %

Shares of NYSE CI opened at $316.70 on Friday. The company has a market capitalization of $88.53 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 0.95 and a beta of 0.50. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. 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 company’s 50 day moving average price is $345.77 and its 200-day moving average price is $341.55.

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 for the quarter, beating the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.77 EPS. Equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current 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 paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio is currently 44.06%.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group 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 owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by company insiders.

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.