5,073 Shares in The Cigna Group (NYSE:CI) Purchased by Portfolio Design Labs LLC

Portfolio Design Labs LLC purchased a new position in shares of The Cigna Group (NYSE:CI) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,073 shares of the health services provider’s stock, valued at approximately $1,757,000.

Several other hedge funds also recently made changes to their positions in the business. TruNorth Capital Management LLC acquired a new position in The Cigna Group during the second quarter worth $33,000. Ulland Investment Advisors LLC boosted its stake 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 worth $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the 3rd quarter valued at about $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the third quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the second quarter worth about $66,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE CI opened at $322.70 on Wednesday. The firm has a market cap of $89.76 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. The business’s 50 day moving average is $337.46 and its 200-day moving average is $339.14. 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 1-year low of $253.95 and a 1-year high of $370.83.

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

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Analyst Ratings Changes

A number of research analysts have weighed in on CI shares. Deutsche Bank Aktiengesellschaft decreased their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $394.64.

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.