The Cigna Group (NYSE:CI) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its position in The Cigna Group (NYSE:CI) by 257.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,163 shares of the health services provider’s stock after purchasing an additional 838 shares during the period. Icon Wealth Advisors LLC’s holdings in The Cigna Group were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after acquiring an additional 625 shares in the last quarter. Marks Group Wealth Management Inc raised its holdings in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares during the period. Hancock Whitney Corp lifted its position in shares of The Cigna Group by 75.6% in the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after buying an additional 1,629 shares during the last quarter. ORG Partners LLC acquired a new position in shares of The Cigna Group in the 2nd quarter valued at about $489,000. Finally, Tidal Investments LLC grew its position in shares of The Cigna Group by 36.0% during the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after buying an additional 4,043 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $328.45 on Friday. The stock has a market cap of $91.36 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 0.99 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock’s 50 day moving average price is $335.43 and its 200 day moving average price is $338.82.

The Cigna Group (NYSE:CI) last posted 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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the previous year, the business earned $6.77 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.70%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Piper Sandler restated an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Barclays increased their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research 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. Finally, Royal Bank of Canada dropped their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $394.64.

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.