Fifth Third Wealth Advisors LLC Purchases 157 Shares of The Cigna Group (NYSE:CI)

Fifth Third Wealth Advisors LLC increased its position in The Cigna Group (NYSE:CI) by 10.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,595 shares of the health services provider’s stock after buying an additional 157 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in The Cigna Group were worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Prospera Financial Services Inc lifted its position in The Cigna Group by 9.2% in the 3rd quarter. Prospera Financial Services Inc now owns 1,378 shares of the health services provider’s stock worth $480,000 after buying an additional 116 shares during the last quarter. Meeder Asset Management Inc. increased its stake in The Cigna Group by 353.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,800 shares of the health services provider’s stock worth $4,088,000 after purchasing an additional 9,198 shares during the period. OneAscent Financial Services LLC purchased a new position in The Cigna Group in the 3rd quarter worth approximately $454,000. OneAscent Wealth Management LLC purchased a new position in The Cigna Group in the 3rd quarter worth approximately $358,000. Finally, AMG National Trust Bank increased its stake in The Cigna Group by 5.7% in the 3rd quarter. AMG National Trust Bank now owns 4,072 shares of the health services provider’s stock worth $1,411,000 after purchasing an additional 218 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft reduced their target price on 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. Finally, Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Price Performance

Shares of CI stock opened at $323.36 on Thursday. 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 business’s fifty day moving average is $336.78 and its 200 day moving average is $339.03. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The stock has a market cap of $89.94 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the company posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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 issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

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.