Adero Partners LLC Purchases 34 Shares of The Cigna Group (NYSE:CI)

Adero Partners LLC lifted its position in shares of The Cigna Group (NYSE:CI) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 788 shares of the health services provider’s stock after acquiring an additional 34 shares during the quarter. Adero Partners LLC’s holdings in The Cigna Group were worth $273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new stake in The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC boosted its stake in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the third quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group during the second quarter worth about $66,000. Finally, Private Ocean LLC raised its holdings in shares of The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $321.52 on Monday. 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 Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a 50 day moving average price of $338.88 and a two-hundred day moving average price of $339.42. The company has a market capitalization of $89.43 billion, a P/E ratio of 30.33, a PEG 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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. Analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CI. Barclays boosted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group boosted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $394.64.

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.