McClarren Financial Advisors Inc. Increases Stock Position in The Cigna Group (NYSE:CI)

McClarren Financial Advisors Inc. grew its stake in shares of The Cigna Group (NYSE:CI) by 4.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 692 shares of the health services provider’s stock after buying an additional 31 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in The Cigna Group were worth $240,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CI. Wellington Management Group LLP boosted its position in The Cigna Group by 240.8% during the 4th quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock worth $4,993,000 after purchasing an additional 11,782 shares during the period. Fisher Asset Management LLC boosted its position in The Cigna Group by 16.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,550 shares of the health services provider’s stock worth $464,000 after purchasing an additional 214 shares during the period. &PARTNERS purchased a new stake in The Cigna Group during the 1st quarter worth $328,000. Douglas Lane & Associates LLC purchased a new stake in The Cigna Group during the 1st quarter worth $648,000. Finally, Opal Wealth Advisors LLC acquired a new position in The Cigna Group in the 1st quarter worth $178,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

CI traded down $17.12 on Friday, hitting $336.00. 2,712,344 shares of the company’s stock were exchanged, compared to its average volume of 1,480,892. The firm has a market cap of $95.45 billion, a PE ratio of 27.59, a P/E/G ratio of 1.05 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The stock has a fifty day moving average of $350.66 and a two-hundred day moving average of $344.29. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last posted 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 Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the prior year, the firm earned $6.13 EPS. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. On average, research analysts anticipate 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 given a $1.40 dividend. This represents a $5.60 annualized dividend 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 45.98%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CI. JPMorgan Chase & Co. boosted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Tuesday, October 1st. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $392.79.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

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.