Assetmark Inc. Purchases 4,847 Shares of The Cigna Group (NYSE:CI)

Assetmark Inc. grew its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,056 shares of the health services provider's stock after buying an additional 4,847 shares during the quarter. Assetmark Inc. owned 0.10% of The Cigna Group worth $92,865,000 at the end of the most recent reporting period.

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

The Cigna Group Trading Up 0.1 %

Shares of The Cigna Group stock traded up $0.28 during trading on Friday, reaching $319.77. The company's stock had a trading volume of 1,315,168 shares, compared to its average volume of 2,002,435. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a market cap of $88.94 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 0.95 and a beta of 0.51. The firm's 50-day moving average is $341.73 and its two-hundred day moving average is $340.43. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating 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 net margin of 1.31% and a return on equity of 18.42%. The firm's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.77 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.75%. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analyst Weigh In

A number of research firms have weighed in 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 research note on Friday, November 1st. Barclays boosted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. StockNews.com lowered shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group boosted their price target on shares of 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 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $394.64.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.