KMG Fiduciary Partners LLC Buys 226 Shares of The Cigna Group (NYSE:CI)

KMG Fiduciary Partners LLC raised its stake in The Cigna Group (NYSE:CI) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,471 shares of the health services provider’s stock after purchasing an additional 226 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in The Cigna Group were worth $2,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CI. Mercer Global Advisors Inc. ADV boosted its stake in shares of The Cigna Group by 13.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 66,980 shares of the health services provider’s stock worth $22,142,000 after acquiring an additional 8,133 shares during the period. Argent Trust Co boosted its stake in shares of The Cigna Group by 3.0% during the 2nd quarter. Argent Trust Co now owns 3,877 shares of the health services provider’s stock worth $1,282,000 after acquiring an additional 114 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of The Cigna Group by 10.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,754 shares of the health services provider’s stock worth $1,572,000 after acquiring an additional 468 shares during the period. Blair William & Co. IL boosted its stake in shares of The Cigna Group by 2.1% during the 2nd quarter. Blair William & Co. IL now owns 44,534 shares of the health services provider’s stock worth $14,721,000 after acquiring an additional 935 shares during the period. Finally, Altrius Capital Management Inc lifted its holdings in The Cigna Group by 1.9% during the 2nd quarter. Altrius Capital Management Inc now owns 13,728 shares of the health services provider’s stock worth $4,538,000 after purchasing an additional 251 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CI. Piper Sandler reissued an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Royal Bank of Canada dropped their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus target price of $395.93.

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 twelve month low of $262.03 and a twelve month high of $370.83. The company has a market cap of $78.18 billion, a P/E ratio of 26.52, a P/E/G ratio of 0.75 and a beta of 0.54. The business has a fifty day simple moving average of $302.88 and a 200 day simple moving average of $327.39.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

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

The Cigna Group 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.