Stone House Investment Management LLC Acquires 40 Shares of The Cigna Group (NYSE:CI)

Stone House Investment Management LLC grew its holdings in The Cigna Group (NYSE:CI) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 200 shares of the health services provider’s stock after purchasing an additional 40 shares during the quarter. Stone House Investment Management LLC’s holdings in The Cigna Group were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CI. Kennedy Capital Management LLC bought a new position in shares of The Cigna Group in the 1st quarter valued at about $3,564,000. B. Riley Wealth Advisors Inc. boosted its stake in The Cigna Group by 12.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,305 shares of the health services provider’s stock worth $2,653,000 after acquiring an additional 795 shares during the last quarter. Tidal Investments LLC boosted its stake in The Cigna Group by 36.0% during the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after acquiring an additional 4,043 shares during the last quarter. Comerica Bank boosted its stake in The Cigna Group by 2.2% during the 1st quarter. Comerica Bank now owns 78,018 shares of the health services provider’s stock worth $28,335,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Hancock Whitney Corp boosted its stake in The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after acquiring an additional 1,629 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $3.11 during trading on Wednesday, reaching $338.11. The company’s stock had a trading volume of 478,402 shares, compared to its average volume of 1,542,755. The business’s 50-day moving average price is $334.32 and its 200-day moving average price is $338.53. The firm has a market cap of $94.05 billion, a PE ratio of 31.61, a P/E/G ratio of 1.00 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 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 announced its 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 company had revenue of $63.70 billion during 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 Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.77 earnings per share. Equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed 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 is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.66%. The Cigna Group’s dividend payout ratio is 52.83%.

Analysts Set New Price Targets

Several research firms recently weighed in on CI. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler restated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Barclays lifted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.