Raymond James Trust N.A. Buys 1,065 Shares of The Cigna Group (NYSE:CI)

Raymond James Trust N.A. boosted its stake in The Cigna Group (NYSE:CI) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,092 shares of the health services provider’s stock after purchasing an additional 1,065 shares during the quarter. Raymond James Trust N.A.’s holdings in The Cigna Group were worth $12,850,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CI. Van ECK Associates Corp boosted its holdings in shares of The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares in the last quarter. Marks Group Wealth Management Inc boosted its holdings in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares in the last quarter. Hancock Whitney Corp boosted its holdings in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after buying an additional 1,629 shares in the last quarter. ORG Partners LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at $489,000. Finally, Tidal Investments LLC boosted its holdings in shares of The Cigna Group by 36.0% during the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after buying an additional 4,043 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $394.64.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $330.71 on Friday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The business has a 50-day simple moving average of $336.15 and a two-hundred day simple moving average of $338.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $91.99 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the firm earned $6.77 EPS. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. On average, analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

About The Cigna Group

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.