Empower Advisory Group LLC Acquires 981 Shares of The Cigna Group (NYSE:CI)

Empower Advisory Group LLC raised its holdings in shares of The Cigna Group (NYSE:CI) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,383 shares of the health services provider’s stock after purchasing an additional 981 shares during the quarter. Empower Advisory Group LLC’s holdings in The Cigna Group were worth $2,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the 3rd quarter worth $37,000. Collier Financial purchased a new position in The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group during the 4th quarter worth $34,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the 3rd quarter worth $45,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group during the 4th quarter worth $37,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CI. Cantor Fitzgerald cut their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company cut 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 report on Tuesday, February 4th. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. 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’s stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Trading Up 0.8 %

Shares of The Cigna Group stock opened at $294.75 on Wednesday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock’s 50-day simple moving average is $285.91 and its 200 day simple moving average is $320.38. The stock has a market capitalization of $81.98 billion, a P/E ratio of 24.08, a P/E/G ratio of 0.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

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 1.39% and a return on equity of 18.61%. During the same period in the prior year, the firm earned $6.79 EPS. As a group, research analysts anticipate that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.05%. The Cigna Group’s dividend payout ratio is currently 45.75%.

The Cigna Group Company 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.