R Squared Ltd Makes New $69,000 Investment in The Cigna Group (NYSE:CI)

R Squared Ltd purchased a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, Holdings Channel reports. The firm purchased 250 shares of the health services provider’s stock, valued at approximately $69,000.

Several other hedge funds have also made changes to their positions in the business. IFG Advisors LLC boosted its holdings in shares of The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. boosted its holdings in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after acquiring an additional 31 shares during the last quarter. Castle Rock Wealth Management LLC boosted its position in shares of The Cigna Group by 0.5% in the third quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock worth $2,263,000 after buying an additional 34 shares during the period. Adero Partners LLC boosted its position in shares of The Cigna Group by 4.5% in the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after buying an additional 34 shares during the period. Finally, Waldron Private Wealth LLC boosted its position in shares of The Cigna Group by 1.0% in the third quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock worth $1,265,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 3.9 %

Shares of NYSE CI opened at $293.99 on Friday. The stock’s 50 day moving average price is $295.09 and its two-hundred day moving average price is $324.69. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market capitalization of $81.77 billion, a P/E ratio of 27.73, a PEG ratio of 0.82 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same period last year, the firm posted $6.79 EPS. On average, analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 52.83%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CI. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday. Barclays cut their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley cut their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, 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. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $380.27.

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.