United Asset Strategies Inc. Acquires 1,168 Shares of The Cigna Group (NYSE:CI)

United Asset Strategies Inc. increased its holdings in shares of The Cigna Group (NYSE:CI) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,145 shares of the health services provider’s stock after acquiring an additional 1,168 shares during the quarter. The Cigna Group comprises about 1.6% of United Asset Strategies Inc.’s investment portfolio, making the stock its 15th largest holding. United Asset Strategies Inc.’s holdings in The Cigna Group were worth $16,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of The Cigna Group by 18.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,301 shares of the health services provider’s stock valued at $473,000 after acquiring an additional 206 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in The Cigna Group in the first quarter valued at $214,000. Everett Harris & Co. CA bought a new position in The Cigna Group during the 1st quarter worth $242,000. Ashton Thomas Private Wealth LLC raised its position in The Cigna Group by 4.1% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,012 shares of the health services provider’s stock worth $1,094,000 after purchasing an additional 119 shares during the last quarter. Finally, Norden Group LLC lifted its holdings in The Cigna Group by 22.3% during the 1st quarter. Norden Group LLC now owns 2,355 shares of the health services provider’s stock worth $855,000 after buying an additional 429 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the business’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 completion of the transaction, the director now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock traded up $7.81 on Thursday, hitting $320.70. 1,241,417 shares of the stock were exchanged, compared to its average volume of 1,509,881. The firm’s 50 day moving average is $347.15 and its two-hundred day moving average is $341.96. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The firm has a market capitalization of $91.10 billion, a PE ratio of 25.70, a P/E/G ratio of 1.05 and a beta of 0.50. 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 issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share 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 net margin of 1.70% and a return on equity of 17.83%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $6.13 earnings per share. Sell-side analysts expect that The Cigna Group will post 28.48 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 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.75%. The Cigna Group’s payout ratio is 45.98%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CI shares. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. 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 investment 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 stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $392.79.

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.