Summit Trail Advisors LLC Has $705,000 Stock Position in The Cigna Group (NYSE:CI)

Summit Trail Advisors LLC grew its holdings in shares of The Cigna Group (NYSE:CI) by 21.3% in the third quarter, Holdings Channel reports. The institutional investor owned 2,034 shares of the health services provider’s stock after acquiring an additional 357 shares during the period. Summit Trail Advisors LLC’s holdings in The Cigna Group were worth $705,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cahill Financial Advisors Inc. bought a new stake in shares of The Cigna Group in the third quarter valued at approximately $379,000. Larson Financial Group LLC raised its position in shares of The Cigna Group by 56.3% during the 3rd quarter. Larson Financial Group LLC now owns 261 shares of the health services provider’s stock valued at $90,000 after buying an additional 94 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in The Cigna Group by 2.9% during the third quarter. Kingsview Wealth Management LLC now owns 31,572 shares of the health services provider’s stock worth $10,938,000 after purchasing an additional 886 shares during the last quarter. Cerity Partners LLC lifted its position in The Cigna Group by 23.9% in the 3rd quarter. Cerity Partners LLC now owns 108,520 shares of the health services provider’s stock worth $37,596,000 after buying an additional 20,926 shares during the last quarter. Finally, Great Valley Advisor Group Inc. raised its position in The Cigna Group by 3.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,227 shares of the health services provider’s stock worth $2,850,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.3 %

Shares of CI opened at $332.73 on Tuesday. The company has a market capitalization of $92.55 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 0.99 and a beta of 0.51. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The stock’s 50-day moving average price is $334.74 and its 200-day moving average price is $338.63. 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 Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm 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 firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $6.77 EPS. On average, sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analyst Weigh In

CI has been the topic of several analyst reports. Piper Sandler reaffirmed 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. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Barclays upped their price objective 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. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $394.64.

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.