Empirical Finance LLC Increases Holdings in The Cigna Group (NYSE:CI)

Empirical Finance LLC increased its stake in The Cigna Group (NYSE:CI) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,792 shares of the health services provider’s stock after acquiring an additional 1,418 shares during the period. Empirical Finance LLC’s holdings in The Cigna Group were worth $3,256,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Ulland Investment Advisors LLC raised its holdings in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Prospera Private Wealth LLC bought a new stake in The Cigna Group in the third quarter worth $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the third quarter worth $45,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group during the fourth quarter valued at $53,000. 86.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Stephens cut their price objective on 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. UBS Group decreased their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced 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 note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Price Performance

NYSE CI opened at $286.67 on Friday. The firm’s fifty day simple moving average is $289.85 and its two-hundred day simple moving average is $322.73. The firm has a market capitalization of $79.74 billion, a P/E ratio of 23.42, a P/E/G ratio of 0.94 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the business earned $6.79 EPS. Analysts forecast that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 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.