Paradigm Asset Management Co. LLC Buys 2,500 Shares of The Cigna Group (NYSE:CI)

Paradigm Asset Management Co. LLC lifted its stake in shares of The Cigna Group (NYSE:CI) by 74.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,875 shares of the health services provider’s stock after purchasing an additional 2,500 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in The Cigna Group were worth $1,622,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in The Cigna Group in the 3rd quarter valued at about $37,000. Collier Financial purchased a new position in The Cigna Group in the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter valued at $34,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the 3rd quarter valued at $45,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the 4th quarter worth $37,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.9 %

CI stock opened at $299.90 on Friday. The company’s 50 day moving average is $285.99 and its two-hundred day moving average is $319.78. The stock has a market cap of $83.42 billion, a P/E ratio of 24.50, a PEG ratio of 0.97 and a beta of 0.54. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business earned $6.79 earnings per share. Research analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 2.01%. The Cigna Group’s payout ratio is presently 45.75%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Barclays dropped their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Stephens lowered their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, UBS Group reduced their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $373.69.

About The Cigna Group

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.