The Cigna Group (NYSE:CI) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its stake in shares of The Cigna Group (NYSE:CI) by 26.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the health services provider’s stock after purchasing an additional 169 shares during the period. Pinnacle Financial Partners Inc’s holdings in The Cigna Group were worth $222,000 as of its most recent SEC filing.

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

The Cigna Group Stock Up 0.1 %

Shares of The Cigna Group stock opened at $299.92 on Monday. The company has a fifty day moving average price of $286.35 and a 200 day moving average price of $319.47. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a market cap of $83.42 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the firm earned $6.79 EPS. Equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Analysts Set New Price Targets

CI has been the subject of several analyst reports. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Barclays lowered their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $372.31.

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.