Capital Performance Advisors LLP Invests $201,000 in The Cigna Group (NYSE:CI)

Capital Performance Advisors LLP bought a new stake in shares of The Cigna Group (NYSE:CI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 581 shares of the health services provider’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Larson Financial Group LLC boosted its stake in The Cigna Group by 198.8% in the 1st quarter. Larson Financial Group LLC now owns 245 shares of the health services provider’s stock worth $89,000 after purchasing an additional 163 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of The Cigna Group by 20.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,921 shares of the health services provider’s stock worth $9,777,000 after buying an additional 4,525 shares during the period. AIA Group Ltd grew its holdings in shares of The Cigna Group by 11.4% during the first quarter. AIA Group Ltd now owns 1,853 shares of the health services provider’s stock valued at $673,000 after buying an additional 190 shares during the last quarter. Wealthspire Advisors LLC increased its position in shares of The Cigna Group by 28.0% in the 1st quarter. Wealthspire Advisors LLC now owns 1,967 shares of the health services provider’s stock valued at $714,000 after acquiring an additional 430 shares during the period. Finally, PFG Advisors increased its position in shares of The Cigna Group by 20.2% in the 1st quarter. PFG Advisors now owns 2,024 shares of the health services provider’s stock valued at $735,000 after acquiring an additional 340 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents 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 accessible through the SEC website. 0.70% of the stock is owned by company insiders.

The Cigna Group Price Performance

Shares of CI stock traded down $0.94 during trading hours on Friday, hitting $318.55. 127,285 shares of the company’s stock were exchanged, compared to its average volume of 1,529,668. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm has a market cap of $88.60 billion, a P/E ratio of 30.26, a P/E/G ratio of 0.95 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $343.37 and a two-hundred day moving average of $340.80.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm 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. This represents a $5.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday. Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $394.64.

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.