Larson Financial Group LLC Increases Stock Position in The Cigna Group (NYSE:CI)

Larson Financial Group LLC grew its position in The Cigna Group (NYSE:CI) by 56.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261 shares of the health services provider’s stock after purchasing an additional 94 shares during the period. Larson Financial Group LLC’s holdings in The Cigna Group were worth $90,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Kingsview Wealth Management LLC increased its holdings in The Cigna Group by 2.9% during the third quarter. Kingsview Wealth Management LLC now owns 31,572 shares of the health services provider’s stock worth $10,938,000 after buying an additional 886 shares during the last quarter. Cerity Partners LLC increased its holdings in The Cigna Group by 23.9% during the third quarter. Cerity Partners LLC now owns 108,520 shares of the health services provider’s stock worth $37,596,000 after buying an additional 20,926 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in The Cigna Group by 3.5% during the third quarter. Great Valley Advisor Group Inc. now owns 8,227 shares of the health services provider’s stock worth $2,850,000 after buying an additional 279 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in The Cigna Group by 13.5% during the third quarter. Nicolet Advisory Services LLC now owns 882 shares of the health services provider’s stock worth $300,000 after buying an additional 105 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in The Cigna Group during the third quarter worth about $1,259,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Barclays increased their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Price Performance

CI stock opened at $336.50 on Friday. The firm has a 50 day moving average of $333.52 and a 200-day moving average of $338.51. 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 12 month low of $253.95 and a 12 month high of $370.83. The firm has a market capitalization of $93.60 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 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 analyst estimates of $59.58 billion. During the same period last year, the business earned $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.66%. The Cigna Group’s payout ratio is presently 52.83%.

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.