The Cigna Group (NYSE:CI) Holdings Increased by Allworth Financial LP

Allworth Financial LP increased its stake in The Cigna Group (NYSE:CI) by 5.2% in the 4th quarter, HoldingsChannel reports. The fund owned 6,097 shares of the health services provider’s stock after acquiring an additional 303 shares during the period. Allworth Financial LP’s holdings in The Cigna Group were worth $1,762,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CI. Principal Securities Inc. increased its position in shares of The Cigna Group by 16.4% during the 4th quarter. Principal Securities Inc. now owns 9,096 shares of the health services provider’s stock valued at $2,512,000 after purchasing an additional 1,281 shares during the period. Roman Butler Fullerton & Co. boosted its stake in The Cigna Group by 748.9% during the fourth quarter. Roman Butler Fullerton & Co. now owns 136,951 shares of the health services provider’s stock valued at $37,818,000 after buying an additional 120,819 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in The Cigna Group by 5.6% during the fourth quarter. V Square Quantitative Management LLC now owns 6,084 shares of the health services provider’s stock worth $1,680,000 after acquiring an additional 323 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the fourth quarter worth about $37,000. Finally, Northern Financial Advisors Inc acquired a new stake in The Cigna Group in the 4th quarter valued at about $208,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of a number of research reports. Stephens dropped their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada dropped their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Morgan Stanley reduced their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Truist Financial cut their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Stock Up 0.8 %

The Cigna Group stock opened at $294.75 on Wednesday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market cap of $81.98 billion, a PE ratio of 24.08, a P/E/G ratio of 0.94 and a beta of 0.54. The firm’s 50 day moving average price is $285.91 and its two-hundred day moving average price is $320.38.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the business earned $6.79 EPS. On average, research analysts predict that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared 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 a boost 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 dividend yield of 2.05%. The Cigna Group’s payout ratio is presently 45.75%.

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.