Raymond James & Associates Acquires 257,711 Shares of The Cigna Group (NYSE:CI)

Raymond James & Associates increased its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 42.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 860,050 shares of the health services provider's stock after buying an additional 257,711 shares during the period. Raymond James & Associates owned 0.30% of The Cigna Group worth $297,956,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cedar Wealth Management LLC acquired a new stake in The Cigna Group in the 1st quarter worth about $29,000. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the 2nd quarter worth about $33,000. Ulland Investment Advisors LLC raised its position in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after buying an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of The Cigna Group in the 2nd quarter valued at approximately $66,000. Finally, Private Ocean LLC raised its position in shares of The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider's stock valued at $66,000 after buying an additional 46 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Trading Down 4.8 %

NYSE CI traded down $17.12 on Friday, hitting $336.00. The company's stock had a trading volume of 2,712,344 shares, compared to its average volume of 1,480,892. 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 has a 1-year low of $253.95 and a 1-year high of $370.83. The company's 50-day moving average is $350.66 and its 200 day moving average is $344.29. The firm has a market cap of $95.45 billion, a PE ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion during the quarter, compared to analysts' expectations of $58.30 billion. During the same period in the prior year, the company posted $6.13 EPS. The company's revenue was up 24.6% on a year-over-year basis. As a group, analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Wednesday, September 4th. The Cigna Group's dividend payout ratio (DPR) is presently 45.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CI. Stephens restated an "overweight" rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Tuesday, October 1st. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an "overweight" rating and a $400.00 target price for the company. StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 2nd. Finally, Barclays lifted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $392.79.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on 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 sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by corporate 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.