Copley Financial Group Inc. Purchases Shares of 1,249 The Cigna Group (NYSE:CI)

Copley Financial Group Inc. acquired a new position in The Cigna Group (NYSE:CI) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,249 shares of the health services provider’s stock, valued at approximately $433,000.

Other hedge funds also recently made changes to their positions in the company. Synovus Financial Corp grew its position in The Cigna Group by 3.0% during the third quarter. Synovus Financial Corp now owns 6,994 shares of the health services provider’s stock valued at $2,424,000 after acquiring an additional 206 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of The Cigna Group by 11.3% in the 3rd quarter. Tidal Investments LLC now owns 15,520 shares of the health services provider’s stock valued at $5,377,000 after purchasing an additional 1,576 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in The Cigna Group by 164.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 14,880 shares of the health services provider’s stock worth $5,155,000 after purchasing an additional 9,248 shares during the period. World Investment Advisors LLC bought a new stake in shares of The Cigna Group in the 3rd quarter valued at about $561,000. Finally, Sanctuary Advisors LLC lifted its position in The Cigna Group by 24.6% in the third quarter. Sanctuary Advisors LLC now owns 48,860 shares of the health services provider’s stock valued at $16,048,000 after purchasing an additional 9,661 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CI shares. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barclays upped 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. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Down 0.5 %

Shares of CI traded down $1.30 during trading hours on Friday, hitting $281.66. The company had a trading volume of 426,703 shares, compared to its average volume of 1,569,640. 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 stock has a market capitalization of $78.34 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 0.88 and a beta of 0.50. The Cigna Group has a 52-week low of $279.88 and a 52-week high of $370.83. The firm has a fifty day moving average price of $327.65 and a 200-day moving average price of $337.08.

The Cigna Group (NYSE:CI) last posted 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 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 business’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 business earned $6.77 EPS. On average, equities research analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid 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 1.99%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.