Creative Planning Purchases 3,994 Shares of The Cigna Group (NYSE:CI)

Creative Planning increased its position in The Cigna Group (NYSE:CI) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,655 shares of the health services provider’s stock after purchasing an additional 3,994 shares during the quarter. Creative Planning’s holdings in The Cigna Group were worth $20,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CX Institutional lifted its position in The Cigna Group by 115.4% in the third quarter. CX Institutional now owns 33,315 shares of the health services provider’s stock worth $11,542,000 after purchasing an additional 17,852 shares during the period. Paladin Wealth LLC bought a new position in The Cigna Group in the third quarter worth $149,000. Redhawk Wealth Advisors Inc. lifted its position in The Cigna Group by 1.8% in the third quarter. Redhawk Wealth Advisors Inc. now owns 2,234 shares of the health services provider’s stock worth $774,000 after purchasing an additional 39 shares during the period. Sheridan Capital Management LLC bought a new position in The Cigna Group in the third quarter worth $210,000. Finally, Willner & Heller LLC lifted its position in The Cigna Group by 10.1% in the third quarter. Willner & Heller LLC now owns 794 shares of the health services provider’s stock worth $275,000 after purchasing an additional 73 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

Shares of CI stock opened at $336.00 on Monday. The stock has a 50-day moving average price of $350.66 and a 200 day moving average price of $344.17. 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 firm has a market cap of $95.45 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83.

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

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders 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 yield of 1.67%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CI shares. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Jefferies Financial Group increased their price objective 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 reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Finally, Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $392.79.

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.