The Cigna Group (NYSE:CI) Stake Lifted by Davidson Investment Advisors

Davidson Investment Advisors lifted its holdings in The Cigna Group (NYSE:CI) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 53,846 shares of the health services provider’s stock after purchasing an additional 559 shares during the quarter. Davidson Investment Advisors’ holdings in The Cigna Group were worth $14,869,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CI. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the third quarter worth $37,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $37,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the third quarter valued at $45,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $292.12 on Tuesday. The business has a 50 day moving average price of $286.46 and a 200 day moving average price of $320.67. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a market cap of $81.25 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 0.94 and a beta of 0.54. 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 Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 in the prior year, the company posted $6.79 EPS. Research analysts predict that The Cigna Group will post 29.8 earnings per share 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 dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. 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 dividend payout ratio (DPR) is 45.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CI shares. StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Oppenheimer reduced their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, UBS Group reduced their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Three investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.69.

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.