GM Advisory Group LLC Purchases 65 Shares of The Cigna Group (NYSE:CI)

GM Advisory Group LLC lifted its position in The Cigna Group (NYSE:CI) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,616 shares of the health services provider’s stock after purchasing an additional 65 shares during the quarter. GM Advisory Group LLC’s holdings in The Cigna Group were worth $3,678,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after acquiring an additional 130,048 shares during the last quarter. Parnassus Investments LLC boosted its holdings in The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after acquiring an additional 59,011 shares during the period. Dimensional Fund Advisors LP grew its position in The Cigna Group by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after acquiring an additional 150,765 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in The Cigna Group by 23.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after purchasing an additional 405,694 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

Shares of CI stock opened at $330.71 on Friday. 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 stock has a market cap of $91.99 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 0.97 and a beta of 0.51. The business’s fifty day moving average is $336.15 and its 200 day moving average is $338.97. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for 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 business’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.77 earnings per share. Research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CI shares. Royal Bank of Canada lowered their price target on shares of 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 target price on shares of The Cigna Group in a report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Barclays upped their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $394.64.

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.