Canoe Financial LP Acquires Shares of 556 The Cigna Group (NYSE:CI)

Canoe Financial LP bought a new position in shares of The Cigna Group (NYSE:CI) during the fourth quarter, Holdings Channel.com reports. The fund bought 556 shares of the health services provider’s stock, valued at approximately $154,000.

A number of other large investors also recently modified their holdings of CI. ORG Wealth Partners LLC bought a new stake in The Cigna Group during the 4th quarter worth approximately $34,000. Ulland Investment Advisors LLC boosted its position in shares of 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 buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group during the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the third quarter worth $45,000. Finally, Intact Investment Management Inc. purchased a new stake in The Cigna Group in the 3rd quarter valued at $69,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CI has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Truist Financial dropped their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $395.93.

The Cigna Group Trading Up 1.1 %

Shares of CI opened at $284.16 on Friday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50-day moving average of $302.08 and a 200 day moving average of $327.07. The firm has a market cap of $79.04 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. 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 posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during 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 company’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the company earned $6.77 earnings per share. As a group, research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The Cigna Group’s dividend payout ratio is currently 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.