Impact Investors Inc Purchases Shares of 1,944 The Cigna Group (NYSE:CI)

Impact Investors Inc bought a new stake in The Cigna Group (NYSE:CI) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,944 shares of the health services provider’s stock, valued at approximately $537,000.

Several other hedge funds have also recently bought and sold shares of CI. Sterling Financial Group Inc. acquired a new position in shares of The Cigna Group during the fourth quarter worth approximately $4,367,000. Marks Group Wealth Management Inc raised its stake 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 purchasing an additional 23,376 shares in the last quarter. Principal Financial Group Inc. lifted its position in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after buying an additional 858 shares in the last quarter. Finally, Valley Wealth Managers Inc. increased its holdings 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 valued at $15,721,000 after buying an additional 1,548 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Cantor Fitzgerald cut their price target 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, January 31st. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company cut their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two 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. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Trading Up 4.4 %

CI stock opened at $314.24 on Wednesday. The business has a fifty day moving average of $287.88 and a 200-day moving average of $319.07. The company has a market cap of $87.41 billion, a P/E ratio of 25.67, a PEG ratio of 0.98 and a beta of 0.54. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 quarter last year, the company earned $6.79 EPS. As a group, equities research analysts expect that The Cigna Group will post 29.77 EPS 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. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.92%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

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.