Allen Mooney & Barnes Investment Advisors LLC Makes New $200,000 Investment in The Cigna Group (NYSE:CI)

Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in shares of The Cigna Group (NYSE:CI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 578 shares of the health services provider’s stock, valued at approximately $200,000.

A number of other large investors also recently modified their holdings of CI. Silicon Valley Capital Partners boosted its stake in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares during the period. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group in the first quarter worth $29,000. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group during the second quarter worth $33,000. Rise Advisors LLC purchased a new position in The Cigna Group during the first quarter valued at $59,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group in the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CI. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. Barclays increased their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $348.91 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $99.12 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The firm’s 50-day moving average is $349.71 and its 200 day moving average is $344.46.

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

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.60%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

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.