The Cigna Group (NYSE:CI) Shares Bought by Waterfront Wealth Inc.

Waterfront Wealth Inc. lifted its stake in shares of The Cigna Group (NYSE:CI) by 36.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,406 shares of the health services provider’s stock after buying an additional 909 shares during the quarter. Waterfront Wealth Inc.’s holdings in The Cigna Group were worth $940,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CI. Hussman Strategic Advisors Inc. acquired a new position in The Cigna Group in the fourth quarter worth about $2,899,000. Handelsbanken Fonder AB grew its position in shares of The Cigna Group by 3.8% in the 4th quarter. Handelsbanken Fonder AB now owns 80,145 shares of the health services provider’s stock worth $22,131,000 after acquiring an additional 2,923 shares in the last quarter. Banyan Capital Management Inc. grew its position in shares of The Cigna Group by 0.9% in the 4th quarter. Banyan Capital Management Inc. now owns 53,690 shares of the health services provider’s stock worth $14,826,000 after acquiring an additional 465 shares in the last quarter. Bryn Mawr Capital Management LLC increased its holdings in shares of The Cigna Group by 5,367.4% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 64,570 shares of the health services provider’s stock valued at $17,830,000 after acquiring an additional 63,389 shares during the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $608,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

NYSE CI opened at $299.92 on Friday. The stock has a market capitalization of $83.42 billion, a P/E ratio of 24.50, 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’s fifty day moving average is $286.35 and its two-hundred day moving average is $319.60. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the company posted $6.79 EPS. On average, research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.75%.

Wall Street Analysts Forecast Growth

CI has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Barclays reduced their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $373.69.

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.