Global Wealth Management Investment Advisory Inc. Has $2.63 Million Stock Holdings in The Cigna Group (NYSE:CI)

Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of The Cigna Group (NYSE:CI) by 12.0% in the third quarter, Holdings Channel.com reports. The fund owned 7,592 shares of the health services provider’s stock after purchasing an additional 814 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in The Cigna Group were worth $2,630,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. AQR Capital Management LLC increased its position in shares of The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after purchasing an additional 600,215 shares in the last quarter. Swedbank AB bought a new position in The Cigna Group during the 1st quarter valued at about $161,300,000. Finally, Ameriprise Financial Inc. boosted its position in The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after buying an additional 405,694 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. Barclays boosted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $395.07.

The Cigna Group Trading Up 0.8 %

NYSE CI traded up $2.56 during trading on Tuesday, reaching $314.88. 65,995 shares of the stock traded hands, compared to its average volume of 1,520,666. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market cap of $87.58 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. The stock’s 50-day moving average price is $344.94 and its 200 day moving average price is $341.23.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share 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 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date 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 52.83%.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

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.