The Cigna Group (NYSE:CI) Stock Position Lifted by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its stake in The Cigna Group (NYSE:CI) by 42.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,877 shares of the health services provider’s stock after acquiring an additional 555 shares during the period. Farther Finance Advisors LLC’s holdings in The Cigna Group were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Checchi Capital Advisers LLC lifted its holdings in shares of The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of 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 worth $729,000 after purchasing an additional 31 shares during the last quarter. IFG Advisors LLC lifted its holdings in shares of The Cigna Group by 4.6% in 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 during the last quarter. McClarren Financial Advisors Inc. increased its position in The Cigna Group by 4.7% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after acquiring an additional 31 shares during the period. Finally, Capital Investment Advisors LLC increased its position in The Cigna Group by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after acquiring an additional 32 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CI. Piper Sandler restated an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday. 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. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $394.64.

Insider Activity at The Cigna Group

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

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $318.34 on Wednesday. The stock has a market cap of $88.55 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. The business has a fifty day simple moving average of $344.23 and a 200-day simple moving average of $340.99. 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 has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted $6.77 earnings per share. On average, sell-side analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

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 of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.76%. The Cigna Group’s payout ratio is 52.83%.

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.