Brooklyn Investment Group Acquires 276 Shares of The Cigna Group (NYSE:CI)

Brooklyn Investment Group grew its holdings in shares of The Cigna Group (NYSE:CI) by 13.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,287 shares of the health services provider’s stock after purchasing an additional 276 shares during the quarter. Brooklyn Investment Group’s holdings in The Cigna Group were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CI. Waverly Advisors LLC lifted its position in shares of The Cigna Group by 132.5% in the first quarter. Waverly Advisors LLC now owns 4,829 shares of the health services provider’s stock worth $1,754,000 after buying an additional 2,752 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in The Cigna Group in the 1st quarter worth approximately $3,564,000. B. Riley Wealth Advisors Inc. grew its holdings in The Cigna Group by 12.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,305 shares of the health services provider’s stock valued at $2,653,000 after purchasing an additional 795 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its position in shares of The Cigna Group by 26.0% in the first quarter. Meiji Yasuda Life Insurance Co now owns 3,700 shares of the health services provider’s stock valued at $1,344,000 after purchasing an additional 763 shares during the period. Finally, Tidal Investments LLC raised its position in shares of The Cigna Group by 36.0% in the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.3 %

Shares of CI stock opened at $332.73 on Tuesday. 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 firm has a fifty day moving average of $334.74 and a 200-day moving average of $338.63. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a market cap of $92.55 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 0.99 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter last year, the company earned $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal 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 1.68%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CI. JPMorgan Chase & Co. raised their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays increased 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 dropped their price target on 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. 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 analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target 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.