Wedmont Private Capital Has $1.30 Million Holdings in The Cigna Group (NYSE:CI)

Wedmont Private Capital boosted its position in shares of The Cigna Group (NYSE:CI) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,664 shares of the health services provider’s stock after purchasing an additional 373 shares during the period. Wedmont Private Capital’s holdings in The Cigna Group were worth $1,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter worth about $34,000. Ulland Investment Advisors LLC grew its stake in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group in the third quarter worth $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the third quarter worth $45,000. Finally, Intact Investment Management Inc. bought a new position in The Cigna Group in the third quarter valued at $69,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $281.54 on Tuesday. The stock has a 50 day simple moving average of $304.16 and a 200 day simple moving average of $328.02. The stock has a market cap of $78.31 billion, a P/E ratio of 26.56, a PEG ratio of 0.88 and a beta of 0.54. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the business posted $6.77 earnings per share. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. Research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $395.93.

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.