Inscription Capital LLC Boosts Position in The Cigna Group (NYSE:CI)

Inscription Capital LLC grew its holdings in shares of The Cigna Group (NYSE:CI) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,512 shares of the health services provider’s stock after buying an additional 204 shares during the period. Inscription Capital LLC’s holdings in The Cigna Group were worth $1,910,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CI. FCG Investment Co grew its stake in The Cigna Group by 60.2% in the third quarter. FCG Investment Co now owns 6,027 shares of the health services provider’s stock worth $2,088,000 after purchasing an additional 2,265 shares during the period. GHP Investment Advisors Inc. grew its stake in The Cigna Group by 0.6% in the third quarter. GHP Investment Advisors Inc. now owns 24,602 shares of the health services provider’s stock worth $8,523,000 after purchasing an additional 156 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in The Cigna Group by 48.5% in 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 period. Arkadios Wealth Advisors grew its stake in The Cigna Group by 284.4% in the third quarter. Arkadios Wealth Advisors now owns 3,882 shares of the health services provider’s stock worth $1,345,000 after purchasing an additional 2,872 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its stake 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 worth $3,531,000 after purchasing an additional 608 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

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 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 transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

Shares of NYSE:CI traded down $2.25 during midday trading on Monday, reaching $314.60. 215,381 shares of the company’s stock traded hands, compared to its average volume of 1,494,930. The company has a market cap of $89.37 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 1.05 and a beta of 0.50. 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 one year low of $253.95 and a one year high of $370.83. The stock has a 50 day moving average of $348.97 and a 200 day moving average of $342.73.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the prior year, the company earned $6.13 earnings per share. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 45.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. 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. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One 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 Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $392.79.

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.