Wilmington Savings Fund Society FSB Increases Stake in The Cigna Group (NYSE:CI)

Wilmington Savings Fund Society FSB raised its holdings in shares of The Cigna Group (NYSE:CI) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,422 shares of the health services provider’s stock after acquiring an additional 1,542 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in The Cigna Group were worth $4,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Sterling Financial Group Inc. purchased a new position in The Cigna Group during the fourth quarter valued at $4,367,000. Marks Group Wealth Management Inc lifted its holdings in The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Trinity Street Asset Management LLP raised its position in shares of The Cigna Group by 7.1% during the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after purchasing an additional 5,397 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after buying an additional 858 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent analyst reports. Cantor Fitzgerald decreased their price target on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Barclays lowered their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial cut their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Raymond James reissued a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, UBS Group cut 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 research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Trading Down 0.2 %

Shares of CI stock opened at $286.67 on Friday. The company has a market cap of $79.74 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 0.94 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 stock’s 50 day simple moving average is $289.85 and its two-hundred day simple moving average is $322.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

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 prior year, the firm posted $6.79 EPS. Research analysts predict that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.11%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 45.75%.

The Cigna Group 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.