Oppenheimer & Co. Inc. Acquires 699 Shares of The Cigna Group (NYSE:CI)

Oppenheimer & Co. Inc. increased its holdings in The Cigna Group (NYSE:CI) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,162 shares of the health services provider’s stock after acquiring an additional 699 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in The Cigna Group were worth $3,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Collier Financial purchased a new position in The Cigna Group during the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth about $34,000. Prospera Private Wealth LLC bought a new position in The Cigna Group in the 3rd quarter worth about $37,000. Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group during the 4th quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the 3rd quarter valued at about $45,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 1.9 %

Shares of CI stock opened at $308.66 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a market cap of $85.85 billion, a P/E ratio of 25.22, a P/E/G ratio of 0.98 and a beta of 0.54. The company 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 earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm earned $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on CI shares. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Oppenheimer decreased their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Cantor Fitzgerald reduced their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two equities research 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $372.31.

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.