The Cigna Group (NYSE:CI) Position Lifted by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC raised its stake in The Cigna Group (NYSE:CI) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,636 shares of the health services provider’s stock after purchasing an additional 43 shares during the period. Princeton Global Asset Management LLC’s holdings in The Cigna Group were worth $913,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the first quarter valued at approximately $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC lifted its stake 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 purchasing an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in The Cigna Group in the second quarter worth $66,000. Finally, Private Ocean LLC increased its stake in The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $316.49 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The firm has a market capitalization of $88.47 billion, a PE ratio of 24.90, a P/E/G ratio of 0.95 and a beta of 0.50. The firm has a 50-day moving average price of $345.77 and a 200 day moving average price of $341.51. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the business earned $6.77 earnings per share. On average, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 44.06%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CI. Barclays raised their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday. Royal Bank of Canada lowered their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $392.29.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now 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 document filed with the SEC, which is accessible through this link. 0.60% of the stock is owned by company insiders.

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.