Concord Wealth Partners Buys 332 Shares of The Cigna Group (NYSE:CI)

Concord Wealth Partners lifted its stake in The Cigna Group (NYSE:CI) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,149 shares of the health services provider’s stock after purchasing an additional 332 shares during the quarter. Concord Wealth Partners’ holdings in The Cigna Group were worth $593,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CI. International Assets Investment Management LLC raised its holdings in shares of The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after buying an additional 399,230 shares during the period. Swedbank AB raised its position in The Cigna Group by 55.1% during the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after purchasing an additional 314,123 shares in the last quarter. FMR LLC lifted its stake in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the period. Raymond James & Associates grew its holdings in The Cigna Group by 42.8% during the 3rd quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after acquiring an additional 257,711 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after purchasing an additional 202,161 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 3.9 %

Shares of CI stock opened at $293.99 on Friday. 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 Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a 50 day moving average of $294.40 and a 200 day moving average of $324.43. The stock has a market cap of $81.77 billion, a P/E ratio of 27.73, a P/E/G ratio of 0.82 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 for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same period in the previous year, the business posted $6.79 earnings per share. As a group, sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is 52.83%.

Analyst Ratings Changes

CI has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday. Truist Financial decreased their price objective on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Oppenheimer dropped their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $380.27.

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.