City Holding Co. Has $1.11 Million Stake in The Cigna Group (NYSE:CI)

City Holding Co. boosted its holdings in shares of The Cigna Group (NYSE:CI) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,002 shares of the health services provider’s stock after acquiring an additional 676 shares during the quarter. City Holding Co.’s holdings in The Cigna Group were worth $1,105,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ulland Investment Advisors LLC raised its holdings in shares of 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 purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the 3rd quarter valued at about $37,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at about $34,000. Harbor Capital Advisors Inc. bought a new position 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 The Cigna Group during the third quarter worth approximately $69,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial reduced their price objective 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. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. 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 stock. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Stock Up 1.1 %

NYSE CI opened at $284.16 on Tuesday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $301.37 and its two-hundred day moving average is $326.80. The company has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54.

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

The Cigna Group Announces Dividend

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

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.