Harbour Investments Inc. Boosts Stock Holdings in The Cigna Group (NYSE:CI)

Harbour Investments Inc. lifted its holdings in shares of The Cigna Group (NYSE:CI) by 23.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 661 shares of the health services provider’s stock after buying an additional 126 shares during the quarter. Harbour Investments Inc.’s holdings in The Cigna Group were worth $229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CI. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the second quarter worth $33,000. Ulland Investment Advisors LLC raised 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 valued at $36,000 after purchasing an additional 100 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group during the 3rd quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group in the 2nd quarter worth about $66,000. Finally, Private Ocean LLC grew its holdings in The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after buying an additional 46 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

NYSE:CI opened at $321.52 on Monday. The company has a market capitalization of $89.43 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 0.97 and a beta of 0.51. The business has a 50 day moving average of $338.88 and a 200 day moving average of $339.42. 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 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 quarterly earnings data 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 Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the business posted $6.77 EPS. The business’s quarterly revenue was up 29.8% on a year-over-year basis. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target 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.