The Cigna Group (NYSE:CI) Position Boosted by Brooklyn Investment Group

Brooklyn Investment Group boosted its holdings in The Cigna Group (NYSE:CI) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,287 shares of the health services provider’s stock after acquiring an additional 276 shares during the quarter. Brooklyn Investment Group’s holdings in The Cigna Group were worth $792,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group during the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its stake in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the 3rd quarter valued at $37,000. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group in the 3rd quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group in the second quarter valued at $66,000. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CI. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Barclays lifted their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Price Performance

NYSE CI opened at $332.73 on Tuesday. 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 firm has a market capitalization of $92.55 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. The company has a 50 day simple moving average of $334.74 and a 200-day simple moving average of $338.63. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last released 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 net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The company’s revenue was up 29.8% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 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.