FCG Investment Co Raises Stock Holdings in The Cigna Group (NYSE:CI)

FCG Investment Co raised its position in shares of The Cigna Group (NYSE:CI) by 60.2% during the 3rd quarter, according to the company in its most recent 13F 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 portfolio, making the stock its 21st largest position. FCG Investment Co’s holdings in The Cigna Group were worth $2,088,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CI. GHP Investment Advisors Inc. boosted its holdings in shares of The Cigna Group by 0.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 24,602 shares of the health services provider’s stock valued at $8,523,000 after acquiring an additional 156 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of The Cigna Group by 48.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 53,227 shares of the health services provider’s stock worth $18,440,000 after purchasing an additional 17,376 shares during the last quarter. Arkadios Wealth Advisors lifted its position in The Cigna Group by 284.4% during the third quarter. Arkadios Wealth Advisors now owns 3,882 shares of the health services provider’s stock valued at $1,345,000 after purchasing an additional 2,872 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in The Cigna Group by 6.3% in the third quarter. NorthCrest Asset Manangement LLC now owns 10,193 shares of the health services provider’s stock valued at $3,531,000 after purchasing an additional 608 shares during the last quarter. Finally, Sageworth Trust Co acquired a new stake in The Cigna Group during the 3rd quarter worth about $208,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated 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 SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. Barclays upped 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. Jefferies Financial Group lifted their target price 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 reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Up 0.4 %

CI opened at $318.00 on Monday. The company has a market cap of $90.34 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a 50-day moving average price of $348.97 and a 200 day moving average price of $342.73. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced 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 business had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.13 earnings per share. Sell-side analysts expect 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. Shareholders 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 presently 45.98%.

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.