Wealthfront Advisers LLC Raises Holdings in The Cigna Group (NYSE:CI)

Wealthfront Advisers LLC increased its position in The Cigna Group (NYSE:CIFree Report) by 27.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,453 shares of the health services provider’s stock after acquiring an additional 3,502 shares during the quarter. Wealthfront Advisers LLC’s holdings in The Cigna Group were worth $4,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC increased its position in shares of The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after buying an additional 46 shares during the period. Fairfield Bush & CO. purchased a new position in shares of The Cigna Group during the 2nd quarter valued at $28,000. Optimum Investment Advisors raised its position in shares of The Cigna Group by 110.0% in the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares in the last quarter. MBM Wealth Consultants LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth $36,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in The Cigna Group during the third quarter valued at $33,000. 85.32% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

CI opened at $308.48 on Thursday. The firm has a market cap of $90.27 billion, a PE ratio of 17.40, a P/E/G ratio of 0.96 and a beta of 0.52. The stock has a 50-day moving average price of $291.42 and a 200-day moving average price of $290.36. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $319.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CIGet Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The health services provider reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $6.66 by $0.11. The firm had revenue of $49.05 billion during the quarter, compared to analyst estimates of $48.14 billion. The Cigna Group had a net margin of 2.79% and a return on equity of 12.62%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.04 earnings per share. Sell-side analysts predict that The Cigna Group will post 24.82 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Wednesday, December 6th were given a dividend of $1.23 per share. This represents a $4.92 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, December 5th. The Cigna Group’s payout ratio is currently 27.75%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Cantor Fitzgerald boosted their price target on shares of The Cigna Group from $310.00 to $334.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $330.00 to $372.00 in a research report on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and set a $327.00 price target on shares of The Cigna Group in a research report on Thursday, November 30th. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on The Cigna Group from $351.00 to $355.00 and gave the company a “hold” rating in a research report on Tuesday, December 12th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $341.81.

Check Out Our Latest Analysis on CI

About The Cigna Group

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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