Financial Perspectives Inc Raises Holdings in The Cigna Group (NYSE:CI)

Financial Perspectives Inc grew its position in shares of The Cigna Group (NYSE:CI) by 6,200.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 378 shares of the health services provider’s stock after purchasing an additional 372 shares during the period. Financial Perspectives Inc’s holdings in The Cigna Group were worth $104,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in The Cigna Group by 1.2% in the third 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after buying an additional 22,408 shares during the period. Parnassus Investments LLC boosted its position in shares of The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after buying an additional 59,011 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of The Cigna Group by 2.1% during 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 buying 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

NYSE CI opened at $294.75 on Wednesday. The firm’s fifty day simple moving average is $285.58 and its two-hundred day simple moving average is $320.08. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market capitalization of $81.98 billion, a P/E ratio of 24.08, a P/E/G ratio of 0.96 and a beta of 0.54.

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 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 in the previous year, the business earned $6.79 EPS. Analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared 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. This represents a $6.04 annualized dividend and a yield of 2.05%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 45.75%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CI. UBS Group dropped their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research report on Thursday, February 6th. Royal Bank of Canada dropped their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Stephens decreased their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $373.69.

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.