McClarren Financial Advisors Inc. Raises Holdings in The Cigna Group (NYSE:CI)

McClarren Financial Advisors Inc. grew its position in shares of The Cigna Group (NYSE:CI) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 692 shares of the health services provider’s stock after purchasing an additional 31 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in The Cigna Group were worth $240,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group during the first quarter worth about $29,000. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group during the second quarter worth about $33,000. Ulland Investment Advisors LLC grew its holdings in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group in the 2nd quarter valued at approximately $66,000. Finally, Private Ocean LLC boosted its holdings in 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 purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CI shares. Barclays lifted their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. Piper Sandler started coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. Jefferies Financial Group lifted their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded down $17.12 during trading on Friday, hitting $336.00. 2,712,344 shares of the company were exchanged, 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 fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a market capitalization of $95.45 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 1.05 and a beta of 0.50. The firm has a 50 day moving average price of $350.66 and a 200 day moving average price of $344.29.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the company earned $6.13 EPS. On average, equities analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.67%. The Cigna Group’s payout ratio is currently 45.98%.

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.