The Cigna Group (NYSE:CI) Stake Boosted by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC raised its position in shares of The Cigna Group (NYSE:CI) by 257.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,163 shares of the health services provider’s stock after buying an additional 838 shares during the quarter. Icon Wealth Advisors LLC’s holdings in The Cigna Group were worth $403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CI. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group in the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its position in shares of 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 buying an additional 100 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group during the third quarter valued at $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the third quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group in the 2nd quarter worth about $66,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.5 %

CI stock opened at $328.45 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $91.36 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. The company has a 50-day moving average of $335.43 and a two-hundred day moving average of $338.82.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping 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 company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the business posted $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

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 issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CI shares. Barclays lifted their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.