Wilmington Savings Fund Society FSB Boosts Stock Position in The Cigna Group (NYSE:CI)

Wilmington Savings Fund Society FSB lifted its position in The Cigna Group (NYSE:CI) by 10.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,422 shares of the health services provider’s stock after buying an additional 1,542 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in The Cigna Group were worth $4,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. IFG Advisors LLC raised its holdings in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after purchasing an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after purchasing an additional 31 shares during the last quarter. Adero Partners LLC increased its position in shares of The Cigna Group by 4.5% during the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after purchasing an additional 34 shares in the last quarter. Waldron Private Wealth LLC boosted its position in shares of The Cigna Group by 1.0% in 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. Finally, CreativeOne Wealth LLC grew 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 worth $422,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CI shares. Truist Financial reduced their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday. Wells Fargo & Company cut their price target on 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. Cantor Fitzgerald lowered their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, 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 on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Performance

NYSE:CI opened at $286.67 on Friday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a 50 day simple moving average of $289.85 and a 200-day simple moving average of $322.73. The firm has a market cap of $79.74 billion, a PE ratio of 23.42, a P/E/G 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 (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period in the previous year, the business posted $6.79 EPS. On average, equities analysts expect that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given 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 annualized dividend and a dividend yield of 2.11%. The Cigna Group’s dividend payout ratio (DPR) is currently 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.