Douglas Lane & Associates LLC Raises Holdings in The Cigna Group (NYSE:CI)

Douglas Lane & Associates LLC lifted its holdings in The Cigna Group (NYSE:CI) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,636 shares of the health services provider’s stock after buying an additional 56 shares during the quarter. Douglas Lane & Associates LLC’s holdings in The Cigna Group were worth $452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal London Asset Management Ltd. grew its stake in shares of The Cigna Group by 0.8% during the 2nd quarter. Royal London Asset Management Ltd. now owns 119,104 shares of the health services provider’s stock worth $39,372,000 after purchasing an additional 912 shares during the period. Daiwa Securities Group Inc. increased its holdings in The Cigna Group by 9.2% in the second quarter. Daiwa Securities Group Inc. now owns 34,046 shares of the health services provider’s stock valued at $11,254,000 after buying an additional 2,857 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in The Cigna Group by 2.9% in the second quarter. Coldstream Capital Management Inc. now owns 4,504 shares of the health services provider’s stock valued at $1,489,000 after purchasing an additional 126 shares during the last quarter. MGO One Seven LLC raised its stake in shares of The Cigna Group by 19.7% during the 2nd quarter. MGO One Seven LLC now owns 3,613 shares of the health services provider’s stock worth $1,195,000 after buying an additional 594 shares during the last quarter. Finally, Vaughan David Investments LLC IL boosted its position in shares of The Cigna Group by 0.4% in the 2nd quarter. Vaughan David Investments LLC IL now owns 141,857 shares of the health services provider’s stock worth $46,894,000 after buying an additional 540 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $279.11 on Thursday. 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 $262.03 and a 1-year high of $370.83. The company has a market capitalization of $77.64 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.88 and a beta of 0.54. The business has a 50-day moving average of $306.25 and a 200-day moving average of $329.32.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $59.58 billion. During the same quarter last year, the company earned $6.77 earnings per share. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were given a $1.40 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.01%. The Cigna Group’s payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent research reports. Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. 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 research note on Monday, November 4th. Finally, Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $395.93.

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.