The Cigna Group (NYSE:CI) Shares Acquired by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators boosted its holdings in The Cigna Group (NYSE:CI) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 800 shares of the health services provider’s stock after purchasing an additional 49 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in The Cigna Group were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CI. Adero Partners LLC lifted its stake in The Cigna Group by 4.5% during the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after buying an additional 34 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after acquiring an additional 35 shares during the period. Hudson Edge Investment Partners Inc. lifted its position in shares of The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after acquiring an additional 36 shares in the last quarter. Smithfield Trust Co boosted its stake in The Cigna Group by 3.6% in the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock worth $373,000 after purchasing an additional 38 shares during the period. Finally, Griffin Asset Management Inc. grew its position in The Cigna Group by 0.6% during the 4th quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider’s stock worth $1,869,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CI. Morgan Stanley reduced their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Wells Fargo & Company decreased their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler restated an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $373.69.

The Cigna Group Stock Performance

Shares of CI opened at $299.92 on Friday. 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 company’s fifty day moving average is $286.35 and its 200-day moving average is $319.60. The firm has a market cap of $83.42 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the company earned $6.79 EPS. Equities analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio 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.