FourThought Financial Partners LLC Invests $3.05 Million in The Cigna Group (NYSE:CI)

FourThought Financial Partners LLC acquired a new position in The Cigna Group (NYSE:CI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,045 shares of the health services provider’s stock, valued at approximately $3,050,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Collier Financial acquired a new stake in The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group during the fourth quarter worth $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the 3rd quarter valued at $37,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the third quarter worth about $45,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CI. Cantor Fitzgerald dropped their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Stephens reduced their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Stock Up 0.3 %

The Cigna Group stock opened at $300.80 on Tuesday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 firm has a 50 day moving average price of $286.90 and a 200-day moving average price of $319.23. The company has a market capitalization of $83.67 billion, a P/E ratio of 24.58, a P/E/G ratio of 0.98 and a beta of 0.54.

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 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 period in the previous year, the business posted $6.79 earnings per share. As a group, equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. 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. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

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.