MorganRosel Wealth Management LLC Makes New $204,000 Investment in The Cigna Group (NYSE:CI)

MorganRosel Wealth Management LLC acquired a new stake in shares of The Cigna Group (NYSE:CI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 588 shares of the health services provider’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Silicon Valley Capital Partners increased its holdings in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group during the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. grew its holdings in The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in The Cigna Group in the 2nd quarter valued at $33,000. Finally, Pineridge Advisors LLC bought a new position in The Cigna Group during the 4th quarter valued at $37,000. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Jefferies Financial Group boosted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Down 0.1 %

Shares of NYSE:CI opened at $350.30 on Friday. The firm has a fifty day moving average price of $348.81 and a two-hundred day moving average price of $344.77. The company has a market cap of $99.51 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 1.05 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a one year low of $253.95 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the company earned $6.13 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. Analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

The Cigna Group Company 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.