The Cigna Group (NYSE:CI) Shares Acquired by IFP Advisors Inc

IFP Advisors Inc increased its holdings in shares of The Cigna Group (NYSE:CI) by 154.9% in the fourth quarter, Holdings Channel reports. The firm owned 11,001 shares of the health services provider’s stock after buying an additional 6,685 shares during the quarter. IFP Advisors Inc’s holdings in The Cigna Group were worth $3,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC boosted its stake 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 during the period. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 1.2% during 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 lifted its position in The Cigna Group by 0.4% during 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 grew its stake in shares of 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 purchasing an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of The Cigna Group by 2.1% in the third 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 valued at $751,414,000 after purchasing an additional 44,810 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.3 %

The Cigna Group stock opened at $300.80 on Tuesday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market capitalization of $83.67 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The stock’s fifty day moving average is $286.90 and its two-hundred day moving average is $319.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the firm earned $6.79 earnings per share. Analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CI. Stephens decreased their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. 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 stock. According to data from MarketBeat, the stock currently 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.