The Cigna Group (NYSE:CI) Shares Purchased by Waterfront Wealth Inc.

Waterfront Wealth Inc. raised its stake in shares of The Cigna Group (NYSE:CI) by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,406 shares of the health services provider’s stock after buying an additional 909 shares during the quarter. Waterfront Wealth Inc.’s holdings in The Cigna Group were worth $940,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CI. FMR LLC grew its holdings in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares during the period. Geode Capital Management LLC grew its stake in The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares during the period. Parnassus Investments LLC raised its holdings in The Cigna Group by 2.1% in the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after acquiring an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of The Cigna Group by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after purchasing an additional 44,810 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $299.92 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market capitalization of $83.42 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. The business has a 50-day moving average of $286.35 and a 200-day moving average of $319.60.

The Cigna Group (NYSE:CI) last released 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 period in the previous year, the firm posted $6.79 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 29.77 EPS 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 issued a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 45.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CI shares. Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. 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 report on Thursday, February 6th. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Stephens decreased their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $373.69.

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.