EP Wealth Advisors LLC Increases Stock Position in The Cigna Group (NYSE:CI)

EP Wealth Advisors LLC lifted its holdings in shares of The Cigna Group (NYSE:CI) by 98.1% in the third quarter, HoldingsChannel reports. The firm owned 10,767 shares of the health services provider’s stock after acquiring an additional 5,333 shares during the period. EP Wealth Advisors LLC’s holdings in The Cigna Group were worth $3,730,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the second quarter worth $33,000. Ulland Investment Advisors LLC boosted its stake in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in The Cigna Group during the 3rd quarter worth about $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the 3rd quarter valued at about $45,000. Finally, Private Ocean LLC lifted its holdings in The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CI. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Down 1.5 %

Shares of NYSE:CI opened at $317.81 on Monday. The firm has a market cap of $88.40 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.50. The company has a fifty day simple moving average of $331.01 and a 200 day simple moving average of $338.05. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.77 EPS. On average, equities research analysts anticipate that The Cigna Group will post 28.49 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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 $1.40 dividend. 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 1.76%. The Cigna Group’s dividend payout ratio is currently 52.83%.

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.