Ellsworth Advisors LLC Acquires 3,697 Shares of The Cigna Group (NYSE:CI)

Ellsworth Advisors LLC increased its stake in shares of The Cigna Group (NYSE:CI) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,864 shares of the health services provider’s stock after acquiring an additional 3,697 shares during the quarter. The Cigna Group comprises approximately 1.4% of Ellsworth Advisors LLC’s holdings, making the stock its 24th largest holding. Ellsworth Advisors LLC’s holdings in The Cigna Group were worth $5,209,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CI. Sterling Financial Group Inc. bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $4,367,000. Marks Group Wealth Management Inc lifted its position in The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares during the period. Principal Financial Group Inc. lifted its position in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during the period. Trinity Street Asset Management LLP increased its holdings in The Cigna Group by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after buying an additional 5,397 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after buying an additional 3,466 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $284.16 on Monday. The firm has a 50 day simple moving average of $301.37 and a 200 day simple moving average of $326.79. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $79.04 billion, a P/E ratio of 26.81, a P/E/G ratio of 0.75 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.77 earnings per share. Sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price 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. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Truist Financial cut their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $395.93.

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.