Harbour Investments Inc. Has $229,000 Stock Position in The Cigna Group (NYSE:CI)

Harbour Investments Inc. raised its holdings in The Cigna Group (NYSE:CI) by 23.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 661 shares of the health services provider’s stock after buying an additional 126 shares during the quarter. Harbour Investments Inc.’s holdings in The Cigna Group were worth $229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Entropy Technologies LP bought a new position in shares of The Cigna Group during the 3rd quarter worth about $2,311,000. Apollon Wealth Management LLC boosted its holdings in The Cigna Group by 2.0% in the third quarter. Apollon Wealth Management LLC now owns 8,915 shares of the health services provider’s stock worth $3,089,000 after acquiring an additional 171 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in The Cigna Group by 8.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 3,210 shares of the health services provider’s stock valued at $1,112,000 after acquiring an additional 247 shares during the period. Buckingham Capital Management Inc. increased its holdings in shares of The Cigna Group by 13.1% during the third quarter. Buckingham Capital Management Inc. now owns 708 shares of the health services provider’s stock valued at $245,000 after acquiring an additional 82 shares in the last quarter. Finally, Delta Financial Advisors LLC raised its position in shares of The Cigna Group by 1.4% during the third quarter. Delta Financial Advisors LLC now owns 3,667 shares of the health services provider’s stock worth $1,270,000 after purchasing an additional 51 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $321.52 on Monday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company’s 50-day moving average is $338.88 and its 200 day moving average is $339.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $89.43 billion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the previous year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analyst Ratings Changes

A number of analysts have commented on CI shares. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $394.64.

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.