Adero Partners LLC Raises Stock Holdings in The Cigna Group (NYSE:CI)

Adero Partners LLC increased its position in The Cigna Group (NYSE:CI) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 788 shares of the health services provider’s stock after purchasing an additional 34 shares during the period. Adero Partners LLC’s holdings in The Cigna Group were worth $273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in The Cigna Group in the second quarter worth $33,000. Ulland Investment Advisors LLC grew its stake in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group in the third quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group in the second quarter worth $66,000. Finally, Private Ocean LLC grew its stake in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after acquiring an additional 46 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.7 %

CI stock opened at $321.52 on Monday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The business’s 50-day moving average is $338.88 and its two-hundred day moving average is $339.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $89.43 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the prior year, the company earned $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. As a group, analysts forecast 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 will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada cut their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Piper Sandler reissued an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $394.64.

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.