Greenfield Savings Bank Acquires 567 Shares of The Cigna Group (NYSE:CI)

Greenfield Savings Bank increased its stake in shares of The Cigna Group (NYSE:CI) by 28.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,578 shares of the health services provider’s stock after buying an additional 567 shares during the quarter. Greenfield Savings Bank’s holdings in The Cigna Group were worth $712,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ulland Investment Advisors LLC grew its holdings in shares of 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 purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new position in The Cigna Group during the 3rd quarter worth $37,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at about $34,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the third quarter valued at $45,000. Finally, Intact Investment Management Inc. bought a new position in The Cigna Group during the third quarter worth $69,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CI shares. Deutsche Bank Aktiengesellschaft decreased their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Truist Financial decreased their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $395.93.

The Cigna Group Stock Up 0.9 %

CI opened at $281.54 on Tuesday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market capitalization of $78.31 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.54. 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 fifty day moving average price of $304.16 and a 200-day moving average price of $328.02.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm posted $6.77 earnings per share. Equities research analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The Cigna Group’s payout ratio is 52.83%.

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.