Sterling Financial Group Inc. Takes $4.37 Million Position in The Cigna Group (NYSE:CI)

Sterling Financial Group Inc. acquired a new position in The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,815 shares of the health services provider’s stock, valued at approximately $4,367,000. The Cigna Group makes up 1.6% of Sterling Financial Group Inc.’s portfolio, making the stock its 13th largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group during the 4th quarter valued at $34,000. Ulland Investment Advisors LLC boosted its position in The Cigna Group by 2,500.0% during the third 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 last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group in the third quarter valued at about $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the 3rd quarter worth about $45,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter worth about $69,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI opened at $281.06 on Friday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market capitalization of $78.18 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The stock’s 50 day moving average price is $302.88 and its two-hundred day moving average price is $327.39. 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 Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the company posted $6.77 earnings per share. On average, equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of 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 reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Royal Bank of Canada cut their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Barclays boosted their price target on 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 research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $395.93.

The Cigna Group Company 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.