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

Sterling Financial Group Inc. bought a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, Holdings Channel reports. The institutional investor bought 15,815 shares of the health services provider’s stock, valued at approximately $4,367,000. The Cigna Group accounts for approximately 1.6% of Sterling Financial Group Inc.’s portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marks Group Wealth Management Inc grew its stake in shares of The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares during the period. Principal Financial Group Inc. grew its position in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares during the period. Trinity Street Asset Management LLP grew its position in The Cigna Group by 7.1% in the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after acquiring an additional 5,397 shares during the period. Pine Valley Investments Ltd Liability Co raised its stake in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after acquiring an additional 3,466 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of The Cigna Group by 6.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 105,479 shares of the health services provider’s stock valued at $36,542,000 after purchasing an additional 6,585 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

Shares of CI stock opened at $281.06 on Friday. 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 has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market cap of $78.18 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 0.75 and a beta of 0.54. The stock has a 50-day moving average price of $302.88 and a 200 day moving average price of $327.39.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping 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 analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the company earned $6.77 EPS. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm 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. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reduced their target price 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. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased 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. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus price target of $395.93.

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.