Old North State Wealth Management LLC Acquires 43 Shares of The Cigna Group (NYSE:CI)

Old North State Wealth Management LLC grew its stake in shares of The Cigna Group (NYSE:CI) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 986 shares of the health services provider’s stock after purchasing an additional 43 shares during the quarter. Old North State Wealth Management LLC’s holdings in The Cigna Group were worth $273,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CI. AMF Tjanstepension AB lifted its position in The Cigna Group by 18.6% in the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock valued at $25,511,000 after purchasing an additional 11,550 shares during the last quarter. Czech National Bank raised its holdings in The Cigna Group by 5.2% during the 3rd quarter. Czech National Bank now owns 56,947 shares of the health services provider’s stock valued at $19,729,000 after buying an additional 2,813 shares during the last quarter. GAMMA Investing LLC boosted its position in The Cigna Group by 45.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,611 shares of the health services provider’s stock valued at $1,251,000 after buying an additional 1,124 shares during the period. Bath Savings Trust Co grew its holdings in The Cigna Group by 3.2% in the 3rd quarter. Bath Savings Trust Co now owns 6,405 shares of the health services provider’s stock worth $2,219,000 after acquiring an additional 200 shares during the last quarter. Finally, Kesler Norman & Wride LLC purchased a new position in shares of The Cigna Group in the third quarter valued at about $692,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company dropped 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 report on Tuesday. Morgan Stanley dropped their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday. UBS Group dropped their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Finally, Royal Bank of Canada reduced their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average target price of $376.63.

The Cigna Group Stock Down 0.2 %

CI stock opened at $291.84 on Wednesday. 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 business has a 50 day moving average of $293.59 and a 200 day moving average of $323.84. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market cap of $81.17 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its quarterly 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. On average, research analysts forecast that The Cigna Group will post 29.66 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared 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 represents a $6.04 annualized dividend and a dividend yield of 2.07%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 45.75%.

The Cigna Group Company 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.