Valley Wealth Managers Inc. Boosts Stake in The Cigna Group (NYSE:CI)

Valley Wealth Managers Inc. increased its position in The Cigna Group (NYSE:CI) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,385 shares of the health services provider’s stock after buying an additional 312 shares during the period. Valley Wealth Managers Inc.’s holdings in The Cigna Group were worth $19,187,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CI. Cedar Wealth Management LLC bought a new stake in The Cigna Group during the 1st quarter valued at $29,000. TruNorth Capital Management LLC bought a new stake in The Cigna Group during the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC boosted its position in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at $66,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.6 %

CI traded down $2.09 during trading hours on Friday, reaching $321.79. 171,258 shares of the stock traded hands, compared to its average volume of 1,538,872. The company has a market cap of $89.51 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 1.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm’s fifty day simple moving average is $339.52 and its two-hundred day simple moving average is $339.91.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 EPS. As a group, analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CI shares. Royal Bank of Canada decreased their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group raised 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, JPMorgan Chase & Co. increased their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $394.64.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s 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 transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 13.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.