SVB Wealth LLC Acquires Shares of 8,411 The Cigna Group (NYSE:CI)

SVB Wealth LLC bought a new position in shares of The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,411 shares of the health services provider’s stock, valued at approximately $2,323,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Collier Financial purchased a new position in The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the 4th quarter worth $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the 3rd quarter worth $37,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the fourth quarter valued at $37,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group in the third quarter valued at about $45,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CI shares. Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Oppenheimer dropped their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Stephens dropped their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial reduced their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Price Performance

Shares of NYSE CI opened at $308.66 on Friday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a market cap of $85.85 billion, a PE ratio of 25.22, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The business has a 50-day simple moving average of $289.54 and a two-hundred day simple moving average of $318.63.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business earned $6.79 earnings per share. As a group, equities analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. The Cigna Group’s payout ratio is 49.35%.

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.