Journey Strategic Wealth LLC Invests $216,000 in The Cigna Group (NYSE:CI)

Journey Strategic Wealth LLC acquired a new position in The Cigna Group (NYSE:CIFree Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 756 shares of the health services provider’s stock, valued at approximately $216,000.

Several other large investors also recently bought and sold shares of CI. Osaic Holdings Inc. grew its stake in shares of The Cigna Group by 24.8% during the 2nd quarter. Osaic Holdings Inc. now owns 85,852 shares of the health services provider’s stock valued at $19,853,000 after purchasing an additional 17,044 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at about $645,000. Princeton Global Asset Management LLC grew its stake in shares of The Cigna Group by 5.1% during the 2nd quarter. Princeton Global Asset Management LLC now owns 2,656 shares of the health services provider’s stock valued at $745,000 after purchasing an additional 128 shares during the period. Aristotle Atlantic Partners LLC grew its stake in shares of The Cigna Group by 24.3% during the 2nd quarter. Aristotle Atlantic Partners LLC now owns 112,541 shares of the health services provider’s stock valued at $31,579,000 after purchasing an additional 22,014 shares during the period. Finally, Rhenman & Partners Asset Management AB grew its stake in shares of The Cigna Group by 36.1% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 114,985 shares of the health services provider’s stock valued at $32,265,000 after purchasing an additional 30,485 shares during the period. 85.32% of the stock is currently owned by institutional investors.

The Cigna Group Stock Down 0.8 %

Shares of CI opened at $321.27 on Tuesday. The stock has a market capitalization of $94.01 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $330.81. The business’s 50 day simple moving average is $296.17 and its 200-day simple moving average is $292.70. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

The Cigna Group (NYSE:CIGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same quarter in the prior year, the firm posted $4.96 EPS. The Cigna Group’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts expect that The Cigna Group will post 28.3 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th will be paid a $1.40 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date is Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is presently 28.29%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CI shares. Jefferies Financial Group upgraded The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $335.00 to $341.00 in a research note on Monday, December 11th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Cantor Fitzgerald raised The Cigna Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $334.00 to $372.00 in a research report on Monday. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target of $347.44.

Read Our Latest Stock Analysis on CI

The Cigna Group Profile

(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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