The Cigna Group (NYSE:CI) Shares Purchased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. raised its position in shares of The Cigna Group (NYSE:CI) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,933 shares of the health services provider’s stock after purchasing an additional 1,548 shares during the period. Valley Wealth Managers Inc.’s holdings in The Cigna Group were worth $15,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Adero Partners LLC boosted its stake in The Cigna Group by 4.5% during the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after purchasing an additional 34 shares during the period. Waldron Private Wealth LLC boosted its stake in The Cigna Group by 1.0% during the 3rd quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock valued at $1,265,000 after purchasing an additional 35 shares during the period. CreativeOne Wealth LLC boosted its stake in The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after purchasing an additional 35 shares during the period. Smithfield Trust Co boosted its stake in The Cigna Group by 3.6% during the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $373,000 after purchasing an additional 38 shares during the period. Finally, Griffin Asset Management Inc. raised its position in shares of 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 buying an additional 39 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on CI shares. Oppenheimer dropped their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Raymond James restated 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 dropped their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Stephens dropped their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Performance

The Cigna Group stock opened at $292.12 on Tuesday. The firm’s 50 day simple moving average is $286.46 and its 200-day simple moving average is $320.67. The company has a market cap of $81.25 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. 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 Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 in the previous year, the company earned $6.79 earnings per share. As a group, equities research analysts predict that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is an increase 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 2.07%. The Cigna Group’s payout ratio is presently 45.75%.

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.