The Cigna Group (NYSE:CI) Shares Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC increased its stake in The Cigna Group (NYSE:CI) by 59.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,073 shares of the health services provider’s stock after purchasing an additional 3,000 shares during the period. Portfolio Design Labs LLC’s holdings in The Cigna Group were worth $2,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Collier Financial acquired a new stake in The Cigna Group during the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group during the 4th quarter valued at approximately $34,000. Ulland Investment Advisors LLC lifted its stake in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the 3rd quarter valued at approximately $37,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group during the 3rd quarter valued at approximately $45,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

The Cigna Group stock opened at $295.46 on Wednesday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market capitalization of $82.18 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 0.94 and a beta of 0.54. The company has a fifty day simple moving average of $288.96 and a 200-day simple moving average of $322.16. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 quarter in the previous year, the business posted $6.79 EPS. On average, equities analysts anticipate that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company 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 is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.04%. The Cigna Group’s payout ratio is presently 45.75%.

Analysts Set New Price Targets

Several analysts have commented on CI shares. Morgan Stanley decreased their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald cut their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, UBS Group cut their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Moderate Buy” and a consensus target price 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.