Mainstay Capital Management LLC ADV Acquires Shares of 594 The Cigna Group (NYSE:CI)

Mainstay Capital Management LLC ADV purchased a new position in The Cigna Group (NYSE:CI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 594 shares of the health services provider’s stock, valued at approximately $206,000.

A number of other large investors also recently bought and sold shares of CI. Mount Yale Investment Advisors LLC grew its position in The Cigna Group by 2.5% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 1,733 shares of the health services provider’s stock valued at $600,000 after purchasing an additional 42 shares during the last quarter. Harvey Investment Co. LLC bought a new stake in The Cigna Group in the 3rd quarter worth about $206,000. Global Assets Advisory LLC purchased a new position in The Cigna Group in the 3rd quarter worth about $209,000. Brighton Jones LLC lifted its position in The Cigna Group by 6.2% during the third quarter. Brighton Jones LLC now owns 3,418 shares of the health services provider’s stock valued at $1,184,000 after purchasing an additional 200 shares during the period. Finally, YHB Investment Advisors Inc. boosted its holdings in The Cigna Group by 18.7% in the third quarter. YHB Investment Advisors Inc. now owns 2,303 shares of the health services provider’s stock worth $798,000 after purchasing an additional 363 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Cigna Group 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 transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on CI shares. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday. 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. Barclays raised their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $318.24 on Friday. The stock has a market cap of $90.40 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. 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 stock has a 50 day moving average price of $349.85 and a 200-day moving average price of $343.40. 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 quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.13 earnings per share. Equities analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.76%. The Cigna Group’s payout ratio is 45.98%.

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.