Ashton Thomas Securities LLC Acquires New Holdings in The Cigna Group (NYSE:CI)

Ashton Thomas Securities LLC acquired a new position in The Cigna Group (NYSE:CI - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,625 shares of the health services provider's stock, valued at approximately $563,000.

Several other hedge funds have also modified their holdings of the stock. Checchi Capital Advisers LLC grew its position in 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. boosted 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 purchasing an additional 31 shares during the period. IFG Advisors LLC lifted its holdings in The Cigna Group by 4.6% during the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider's stock valued at $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. grew its position in shares of The Cigna Group by 4.7% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider's stock worth $240,000 after buying an additional 31 shares during the period. Finally, Capital Investment Advisors LLC grew its holdings in The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider's stock valued at $371,000 after purchasing an additional 32 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Up 0.4 %

Shares of CI stock traded up $1.26 during trading hours on Tuesday, reaching $344.32. 993,913 shares of the stock were exchanged, compared to its average volume of 1,537,468. The firm has a market capitalization of $95.77 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. The company has a current ratio of 0.72, a quick 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 company's 50-day moving average price is $341.35 and its 200-day moving average price is $340.18.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 1.31% and a return on equity of 18.42%. The company's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 earnings per share. As a group, equities analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently declared 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 is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.63%. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CI shares. JPMorgan Chase & Co. raised their price target 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. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Barclays lifted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. 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, the stock presently has a consensus rating of "Buy" and a consensus price target of $394.64.

Insider Buying and Selling at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the business's stock in a transaction on 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 $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.60% of the company's stock.

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.