Sunbelt Securities Inc. Acquires 43 Shares of The Cigna Group (NYSE:CI)

Sunbelt Securities Inc. raised its stake in shares of The Cigna Group (NYSE:CI) by 24.9% in the third quarter, Holdings Channel.com reports. The firm owned 216 shares of the health services provider’s stock after buying an additional 43 shares during the period. Sunbelt Securities Inc.’s holdings in The Cigna Group were worth $75,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC raised its holdings in shares of 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 purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in The Cigna Group in the 3rd quarter valued at about $37,000. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group during the 3rd quarter worth approximately $45,000. Private Ocean LLC boosted its stake 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 worth $66,000 after buying an additional 46 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new position in shares of The Cigna Group in the third quarter valued at approximately $69,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

NYSE:CI opened at $281.86 on Monday. The Cigna Group has a 52-week low of $279.88 and a 52-week high of $370.83. The business’s fifty day moving average is $326.45 and its 200 day moving average is $336.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $78.40 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 0.88 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 earnings per share. Research analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 1.99%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CI shares. JPMorgan Chase & Co. boosted their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group raised their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. One 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target 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.