The Cigna Group (NYSE:CI) Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its holdings in The Cigna Group (NYSE:CI) by 5.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,595 shares of the health services provider’s stock after buying an additional 201 shares during the period. Cidel Asset Management Inc.’s holdings in The Cigna Group were worth $993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $34,000. Ulland Investment Advisors LLC increased its stake in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group in the third quarter worth $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the third quarter worth $45,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter valued at about $53,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CI. StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays cut their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Cantor Fitzgerald lowered their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, 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. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Trading Down 0.2 %

Shares of CI opened at $286.67 on Friday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap of $79.74 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The firm’s fifty day moving average is $290.87 and its two-hundred day moving average is $323.07. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the firm posted $6.79 EPS. Research analysts forecast that The Cigna Group will post 29.66 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. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.11%. The Cigna Group’s payout ratio is 45.75%.

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.