The Cigna Group (NYSE:CI) Shares Bought by Allworth Financial LP

Allworth Financial LP increased its stake in The Cigna Group (NYSE:CI) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,097 shares of the health services provider’s stock after buying an additional 303 shares during the quarter. Allworth Financial LP’s holdings in The Cigna Group were worth $1,762,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Collier Financial acquired a new stake in shares of The Cigna Group during the fourth quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the fourth quarter valued at about $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the 3rd quarter valued at approximately $37,000. Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group during the 4th quarter worth approximately $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at approximately $45,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CI has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. UBS Group cut their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Raymond James reiterated a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has an average rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Stock Up 0.8 %

The Cigna Group stock opened at $294.75 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a 50-day simple moving average of $285.91 and a 200-day simple moving average of $320.38. The firm has a market capitalization of $81.98 billion, a P/E ratio of 24.08, a P/E/G ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. As a group, equities analysts expect that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm 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 represents a $6.04 annualized dividend and a yield of 2.05%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 45.75%.

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.