Sunbelt Securities Inc. Has $75,000 Stock Holdings in The Cigna Group (NYSE:CI)

Sunbelt Securities Inc. raised its position in shares of The Cigna Group (NYSE:CI) by 24.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216 shares of the health services provider’s stock after purchasing an additional 43 shares during the period. Sunbelt Securities Inc.’s holdings in The Cigna Group were worth $75,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC raised its position in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after buying an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in The Cigna Group by 1.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after acquiring an additional 31 shares in the last quarter. IFG Advisors LLC grew its holdings in shares of The Cigna Group by 4.6% during the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after purchasing an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after purchasing an additional 31 shares during the period. Finally, Saxony Capital Management LLC raised its stake in shares of The Cigna Group by 5.3% in the second quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock valued at $211,000 after purchasing an additional 32 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Down 0.4 %

The Cigna Group stock opened at $281.86 on Monday. The company has a market capitalization of $78.40 billion, a PE ratio of 26.59, a PEG ratio of 0.88 and a beta of 0.50. The Cigna Group has a 12-month low of $279.88 and a 12-month high of $370.83. The firm’s fifty day moving average is $326.45 and its 200 day moving average is $336.78. 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 data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The Cigna Group’s dividend payout ratio is 52.83%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CI. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target 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.