Winthrop Advisory Group LLC Purchases 2,053 Shares of The Cigna Group (NYSE:CI)

Winthrop Advisory Group LLC grew its position in The Cigna Group (NYSE:CI) by 152.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,402 shares of the health services provider’s stock after purchasing an additional 2,053 shares during the period. Winthrop Advisory Group LLC’s holdings in The Cigna Group were worth $1,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cedar Wealth Management LLC acquired a new position in shares of The Cigna Group during the first quarter worth about $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the second quarter valued at about $33,000. Ulland Investment Advisors LLC raised its holdings in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the third quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group in the second quarter valued at approximately $66,000. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CI. Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 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 investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $394.64.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 1.8 %

CI stock opened at $320.77 on Friday. The company has a market capitalization of $89.22 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 0.95 and a beta of 0.51. The stock has a fifty day moving average of $343.37 and a 200-day moving average of $340.80. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last issued 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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the company posted $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.75%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

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.