Confluence Wealth Services Inc. Has $446,000 Stock Position in The Cigna Group (NYSE:CI)

Confluence Wealth Services Inc. lifted its position in The Cigna Group (NYSE:CI) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,512 shares of the health services provider’s stock after acquiring an additional 98 shares during the period. Confluence Wealth Services Inc.’s holdings in The Cigna Group were worth $446,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CI. ORG Wealth Partners LLC acquired a new position in The Cigna Group in the 4th quarter valued at approximately $34,000. Ulland Investment Advisors LLC increased its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the third quarter valued at $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the third quarter valued at about $45,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the subject of several research reports. Oppenheimer reduced their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. UBS Group reduced their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Cantor Fitzgerald lowered their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $377.07.

The Cigna Group Trading Up 0.5 %

Shares of The Cigna Group stock opened at $293.00 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company’s fifty day moving average price is $292.73 and its two-hundred day moving average price is $323.53. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market capitalization of $81.50 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 last year, the business posted $6.79 earnings per share. On average, analysts expect that The Cigna Group will post 29.66 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. The Cigna Group’s dividend payout ratio (DPR) is presently 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.