The Cigna Group (NYSE:CI) Shares Purchased by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in The Cigna Group (NYSE:CI) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,358 shares of the health services provider’s stock after purchasing an additional 86 shares during the quarter. The Cigna Group accounts for about 1.5% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 22nd largest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in The Cigna Group were worth $14,182,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Sterling Financial Group Inc. purchased a new stake in shares of The Cigna Group during the fourth quarter worth approximately $4,367,000. Marks Group Wealth Management Inc raised its position in shares of The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares during the last quarter. Principal Financial Group Inc. boosted its position in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in The Cigna Group by 1.1% in 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. Finally, Valley Wealth Managers Inc. lifted its stake in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of CI opened at $299.92 on Monday. The firm has a market capitalization of $83.42 billion, a PE ratio of 24.50, a P/E/G ratio of 0.98 and a beta of 0.54. The stock’s 50 day moving average is $286.35 and its two-hundred day moving average is $319.47. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates 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 company posted $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CI. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Stephens lowered their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company decreased their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $372.31.

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.