Commonwealth Equity Services LLC Has $24.71 Million Stock Position in The Cigna Group (NYSE:CI)

Commonwealth Equity Services LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 3.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 88,069 shares of the health services provider’s stock after purchasing an additional 2,769 shares during the period. Commonwealth Equity Services LLC’s holdings in The Cigna Group were worth $24,712,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kalos Management Inc. bought a new stake in shares of The Cigna Group during the 1st quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new position in shares of The Cigna Group in the fourth quarter valued at approximately $36,000. Activest Wealth Management acquired a new stake in The Cigna Group during the 2nd quarter worth approximately $34,000. McClarren Financial Advisors Inc. boosted its stake in The Cigna Group by 672.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 139 shares of the health services provider’s stock valued at $39,000 after purchasing an additional 121 shares during the period. Finally, Archer Investment Corp grew its holdings in The Cigna Group by 1,038.5% in the 2nd quarter. Archer Investment Corp now owns 148 shares of the health services provider’s stock valued at $42,000 after buying an additional 135 shares in the last quarter. Institutional investors own 85.32% of the company’s stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $284.30 on Tuesday. The company’s 50 day moving average price is $294.97 and its two-hundred day moving average price is $281.73. The firm has a market capitalization of $83.19 billion, a P/E ratio of 16.03, a P/E/G ratio of 1.02 and a beta of 0.65. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $340.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, November 2nd. The health services provider reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.68 by $0.09. The Cigna Group had a return on equity of 12.62% and a net margin of 2.79%. The company had revenue of $49.05 billion for the quarter, compared to the consensus estimate of $48.14 billion. During the same quarter last year, the business posted $6.04 EPS. The Cigna Group’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that The Cigna Group will post 24.82 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Wednesday, December 6th will be given a dividend of $1.23 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $4.92 annualized dividend and a yield of 1.73%. The Cigna Group’s dividend payout ratio is presently 27.75%.

Wall Street Analysts Forecast Growth

CI has been the topic of several research reports. Bank of America upped their price target on shares of The Cigna Group from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $327.00 price target on shares of The Cigna Group in a research report on Wednesday, November 15th. Cantor Fitzgerald increased their price target on The Cigna Group from $310.00 to $334.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Edward Jones cut The Cigna Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Wells Fargo & Company boosted their price target on The Cigna Group from $284.00 to $300.00 in a research note on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.40.

Insiders Place Their Bets

In other news, EVP Cynthia Ryan sold 3,768 shares of The Cigna Group stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $282.22, for a total transaction of $1,063,404.96. Following the transaction, the executive vice president now owns 5,503 shares in the company, valued at $1,553,056.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

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.