Canoe Financial LP Makes New Investment in The Cigna Group (NYSE:CI)

Canoe Financial LP bought a new stake in The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 556 shares of the health services provider’s stock, valued at approximately $154,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the fourth quarter valued at about $34,000. Ulland Investment Advisors LLC increased its stake in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group during the 3rd quarter worth $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $45,000. Finally, Intact Investment Management Inc. bought a new stake in shares of The Cigna Group during the 3rd quarter valued at approximately $69,000. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CI. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Royal Bank of Canada dropped their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Truist Financial dropped their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Barclays boosted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $395.93.

The Cigna Group Stock Up 1.1 %

Shares of NYSE:CI opened at $284.16 on Friday. The business’s 50-day moving average is $302.08 and its 200-day moving average is $327.07. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 0.75 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

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

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

About The Cigna Group

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.