Deroy & Devereaux Private Investment Counsel Inc. Boosts Position in The Cigna Group (NYSE:CI)

Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of The Cigna Group (NYSE:CI) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,979 shares of the health services provider’s stock after purchasing an additional 1,225 shares during the quarter. The Cigna Group makes up approximately 1.5% of Deroy & Devereaux Private Investment Counsel Inc.’s portfolio, making the stock its 27th biggest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in The Cigna Group were worth $25,976,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC lifted its stake in The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after buying an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after buying an additional 31 shares during the last quarter. IFG Advisors LLC lifted its stake in The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. lifted its stake in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after buying an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its stake in The Cigna Group by 2.9% in the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.6 %

CI opened at $314.91 on Friday. The business’s fifty day moving average is $346.52 and its two-hundred day moving average is $341.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $89.46 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a one year low of $253.95 and a one year high of $370.83.

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 analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.13 earnings per share. Analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given 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 1.78%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on CI shares. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Barclays boosted their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. 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. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $392.79.

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.