Fifth Third Wealth Advisors LLC Boosts Position in The Cigna Group (NYSE:CI)

Fifth Third Wealth Advisors LLC boosted its position in shares of The Cigna Group (NYSE:CI) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,595 shares of the health services provider’s stock after acquiring an additional 157 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in The Cigna Group were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in The Cigna Group during the 1st quarter valued at approximately $101,000. CreativeOne Wealth LLC purchased a new position in shares of The Cigna Group in the 1st quarter worth approximately $454,000. Capital World Investors boosted its holdings in shares of The Cigna Group by 0.6% in the 1st quarter. Capital World Investors now owns 1,186,982 shares of the health services provider’s stock worth $431,100,000 after purchasing an additional 6,549 shares during the period. Linscomb Wealth Inc. boosted its holdings in shares of The Cigna Group by 0.4% in the 1st quarter. Linscomb Wealth Inc. now owns 10,261 shares of the health services provider’s stock worth $3,727,000 after purchasing an additional 43 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of The Cigna Group in the 1st quarter worth approximately $1,831,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of recent research reports. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Trading Up 0.3 %

Shares of NYSE CI opened at $323.36 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $336.78 and a two-hundred day simple moving average of $339.03. The firm has a market cap of $89.94 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

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

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

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.