Northwest & Ethical Investments L.P. Acquires 2,575 Shares of The Cigna Group (NYSE:CI)

Northwest & Ethical Investments L.P. increased its stake in The Cigna Group (NYSE:CI) by 4.1% during the third quarter, Holdings Channel.com reports. The firm owned 65,564 shares of the health services provider’s stock after purchasing an additional 2,575 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in The Cigna Group were worth $22,714,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Checchi Capital Advisers LLC raised its stake in shares of The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after buying an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares during the period. IFG Advisors LLC lifted its holdings in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. lifted its holdings in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after purchasing an additional 31 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its position in shares of The Cigna Group by 2.9% in the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after purchasing an additional 32 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CI. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Trading Up 0.4 %

CI stock traded up $1.50 during midday trading on Thursday, reaching $336.50. 1,770,192 shares of the company traded hands, compared to its average volume of 1,548,707. The firm has a market capitalization of $93.60 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 1.00 and a beta of 0.51. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The business has a 50 day moving average of $333.94 and a 200-day moving average of $338.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the company earned $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. As a group, sell-side 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 paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 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.