Prime Capital Investment Advisors LLC Boosts Stake in The Cigna Group (NYSE:CI)

Prime Capital Investment Advisors LLC grew its stake in shares of The Cigna Group (NYSE:CI) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,125 shares of the health services provider’s stock after acquiring an additional 218 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in The Cigna Group were worth $1,082,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Savvy Advisors Inc. purchased a new stake in shares of The Cigna Group during the third quarter worth about $336,000. Sumitomo Mitsui Trust Group Inc. boosted its position in The Cigna Group by 1.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 784,034 shares of the health services provider’s stock worth $271,621,000 after acquiring an additional 13,814 shares during the last quarter. Harbour Investments Inc. grew its stake in The Cigna Group by 23.6% in the 3rd quarter. Harbour Investments Inc. now owns 661 shares of the health services provider’s stock worth $229,000 after acquiring an additional 126 shares during the period. Entropy Technologies LP acquired a new position in The Cigna Group in the 3rd quarter valued at $2,311,000. Finally, Apollon Wealth Management LLC lifted its stake in shares of The Cigna Group by 2.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 8,915 shares of the health services provider’s stock worth $3,089,000 after purchasing an additional 171 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 13.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

The Cigna Group Trading Down 2.5 %

Shares of CI opened at $323.88 on Friday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock’s 50-day moving average is $340.14 and its two-hundred day moving average is $340.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $90.09 billion, a PE ratio of 31.30, a P/E/G ratio of 1.02 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the company posted $6.77 EPS. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research 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 company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $394.64.

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.