Wilmington Savings Fund Society FSB Has $5.16 Million Stock Position in The Cigna Group (NYSE:CI)

Wilmington Savings Fund Society FSB grew its stake in shares of The Cigna Group (NYSE:CI) by 164.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,880 shares of the health services provider’s stock after buying an additional 9,248 shares during the period. Wilmington Savings Fund Society FSB’s holdings in The Cigna Group were worth $5,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fiduciary Financial Group LLC acquired a new stake in shares of The Cigna Group during the second quarter worth about $362,000. Blue Trust Inc. lifted its holdings in shares of The Cigna Group by 65.8% in the second quarter. Blue Trust Inc. now owns 1,530 shares of the health services provider’s stock valued at $556,000 after purchasing an additional 607 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of The Cigna Group by 12.5% during the second quarter. Foster Victor Wealth Advisors LLC now owns 43,748 shares of the health services provider’s stock worth $14,862,000 after buying an additional 4,844 shares in the last quarter. Gladius Capital Management LP bought a new stake in The Cigna Group in the 2nd quarter valued at approximately $1,091,000. Finally, E&G Advisors LP boosted its position in The Cigna Group by 8.8% during the 2nd quarter. E&G Advisors LP now owns 2,037 shares of the health services provider’s stock worth $673,000 after acquiring an additional 164 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Barclays increased their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Price Performance

CI stock opened at $282.90 on Friday. The stock has a market cap of $78.69 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 0.88 and a beta of 0.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The company has a 50 day simple moving average of $327.65 and a 200 day simple moving average of $337.08. The Cigna Group has a 1 year low of $282.27 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the business earned $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 anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 1.98%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 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.