Crestwood Advisors Group LLC Boosts Stake in The Cigna Group (NYSE:CI)

Crestwood Advisors Group LLC raised its position in The Cigna Group (NYSE:CI) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,672 shares of the health services provider’s stock after purchasing an additional 119 shares during the period. Crestwood Advisors Group LLC’s holdings in The Cigna Group were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. AMF Tjanstepension AB lifted its position in shares of The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares during the last quarter. Swedbank AB lifted its position in shares of The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after purchasing an additional 119,681 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of The Cigna Group by 48.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 53,227 shares of the health services provider’s stock worth $18,440,000 after purchasing an additional 17,376 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of The Cigna Group by 7.9% during the third quarter. Nisa Investment Advisors LLC now owns 118,582 shares of the health services provider’s stock worth $41,082,000 after purchasing an additional 8,662 shares during the last quarter. Finally, abrdn plc lifted its position in shares of The Cigna Group by 0.6% during the third quarter. abrdn plc now owns 384,273 shares of the health services provider’s stock worth $132,960,000 after purchasing an additional 2,378 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 4.4 %

The Cigna Group stock opened at $314.24 on Wednesday. The firm has a 50 day simple moving average of $287.88 and a 200-day simple moving average of $319.07. 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 stock has a market capitalization of $87.41 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 quarter in the prior year, the firm earned $6.79 earnings per share. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.92%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Oppenheimer dropped their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group 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.