Alhambra Investment Management LLC Buys 125 Shares of The Cigna Group (NYSE:CI)

Alhambra Investment Management LLC grew its stake in The Cigna Group (NYSE:CI) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,725 shares of the health services provider’s stock after purchasing an additional 125 shares during the period. Alhambra Investment Management LLC’s holdings in The Cigna Group were worth $752,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its holdings in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after acquiring an additional 31 shares during the last quarter. IFG Advisors LLC boosted its stake in shares of The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. increased its position in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares during the period. SPC Financial Inc. raised its stake in The Cigna Group by 0.7% during the second quarter. SPC Financial Inc. now owns 5,119 shares of the health services provider’s stock worth $1,692,000 after buying an additional 34 shares during the last quarter. Finally, Castle Rock Wealth Management LLC lifted its holdings in The Cigna Group by 0.5% in the third quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock valued at $2,263,000 after buying an additional 34 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

NYSE CI opened at $284.16 on Friday. The company’s 50 day moving average is $302.08 and its 200-day moving average is $327.07. The firm has a market cap of $79.04 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.77 earnings per share. Sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s payout ratio is presently 52.83%.

Analyst Ratings Changes

A number of brokerages have weighed in on CI. Deutsche Bank Aktiengesellschaft decreased their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Truist Financial lowered their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Royal Bank of Canada cut 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. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $395.93.

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.