Financial Life Planners Takes Position in The Cigna Group (NYSE:CI)

Financial Life Planners acquired a new position in The Cigna Group (NYSE:CI) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 886 shares of the health services provider’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CI. Catalina Capital Group LLC boosted its stake in The Cigna Group by 3.5% during the fourth quarter. Catalina Capital Group LLC now owns 1,637 shares of the health services provider’s stock valued at $452,000 after buying an additional 56 shares in the last quarter. Lynch Asset Management Inc. boosted its holdings in The Cigna Group by 2.6% during the fourth quarter. Lynch Asset Management Inc. now owns 9,900 shares of the health services provider’s stock worth $2,734,000 after buying an additional 250 shares in the last quarter. Golden State Equity Partners grew its position in The Cigna Group by 786.5% in the fourth quarter. Golden State Equity Partners now owns 2,553 shares of the health services provider’s stock worth $705,000 after buying an additional 2,265 shares during the last quarter. Avantra Family Wealth Inc. bought a new position in shares of The Cigna Group in the fourth quarter valued at $416,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after acquiring an additional 858 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley cut their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday. StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday. Cantor Fitzgerald decreased their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Truist Financial lowered their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $380.27.

The Cigna Group Stock Performance

Shares of CI opened at $293.99 on Monday. The firm has a market cap of $81.77 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The company’s fifty day moving average is $294.40 and its 200-day moving average is $324.18. 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 has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $6.79 EPS. Equities analysts expect that The Cigna Group will post 29.66 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business 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 dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 45.75%.

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.