W.G. Shaheen & Associates DBA Whitney & Co Increases Stake in The Cigna Group (NYSE:CI)

W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in shares of The Cigna Group (NYSE:CI) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 51,272 shares of the health services provider’s stock after acquiring an additional 529 shares during the period. The Cigna Group accounts for 1.9% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 15th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in The Cigna Group were worth $17,763,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CI. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC raised its holdings in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the third quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group in the second quarter valued at approximately $66,000. Finally, Private Ocean LLC raised its holdings in The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after buying an additional 46 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CI shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group increased their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Up 0.3 %

CI stock opened at $322.40 on Tuesday. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $89.68 billion, a P/E ratio of 30.42, a PEG ratio of 0.97 and a beta of 0.51. The firm has a 50 day simple moving average of $338.17 and a 200-day simple moving average of $339.27.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.77 earnings per share. On average, equities research analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 52.83%.

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.