Newbridge Financial Services Group Inc. Purchases New Position in The Cigna Group (NYSE:CI)

Newbridge Financial Services Group Inc. acquired a new position in shares of The Cigna Group (NYSE:CI) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 407 shares of the health services provider’s stock, valued at approximately $112,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Private Wealth Services LLC raised its holdings in shares of The Cigna Group by 81.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,346 shares of the health services provider’s stock valued at $1,200,000 after purchasing an additional 1,955 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in The Cigna Group in the fourth quarter worth approximately $262,000. Thompson Investment Management Inc. lifted its holdings in The Cigna Group by 2.8% during the fourth quarter. Thompson Investment Management Inc. now owns 23,095 shares of the health services provider’s stock worth $6,378,000 after buying an additional 628 shares during the period. Empirical Finance LLC boosted its position in The Cigna Group by 13.7% during the 4th quarter. Empirical Finance LLC now owns 11,792 shares of the health services provider’s stock valued at $3,256,000 after acquiring an additional 1,418 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of The Cigna Group by 20.0% in the 4th quarter. Empowered Funds LLC now owns 59,091 shares of the health services provider’s stock valued at $16,317,000 after acquiring an additional 9,868 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Up 2.1 %

Shares of CI stock opened at $292.74 on Tuesday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market capitalization of $81.43 billion, a PE ratio of 23.92, 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 stock’s 50-day simple moving average is $289.85 and its 200-day simple moving average is $322.50.

The Cigna Group (NYSE:CI) last issued 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the company posted $6.79 earnings per share. Equities analysts expect that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Morgan Stanley decreased their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Truist Financial cut their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.