Western Financial Corp CA Boosts Holdings in The Cigna Group (NYSE:CI)

Western Financial Corp CA grew its stake in shares of The Cigna Group (NYSE:CI) by 14.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,643 shares of the health services provider’s stock after acquiring an additional 333 shares during the quarter. Western Financial Corp CA’s holdings in The Cigna Group were worth $730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Algert Global LLC acquired a new stake in shares of The Cigna Group in the second quarter worth $523,000. Cetera Investment Advisers increased its position in shares of The Cigna Group by 1.4% in the second quarter. Cetera Investment Advisers now owns 63,156 shares of the health services provider’s stock valued at $20,878,000 after buying an additional 895 shares in the last quarter. Clearbridge Investments LLC raised its position in The Cigna Group by 154.9% during the second quarter. Clearbridge Investments LLC now owns 3,525 shares of the health services provider’s stock worth $1,165,000 after acquiring an additional 2,142 shares during the period. Anchor Investment Management LLC lifted its stake in The Cigna Group by 4.7% in the 2nd quarter. Anchor Investment Management LLC now owns 4,768 shares of the health services provider’s stock valued at $1,576,000 after buying an additional 214 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in The Cigna Group by 18.6% during the 3rd quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Up 3.9 %

CI opened at $293.99 on Friday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a market cap of $81.77 billion, a P/E ratio of 27.73, a PEG ratio of 0.82 and a beta of 0.54. The business’s fifty day simple moving average is $294.40 and its 200 day simple moving average is $324.43. 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 (NYSE:CI) last announced its quarterly earnings data 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 net margin of 1.31% and a return on equity of 18.42%. During the same period in the previous year, the company posted $6.79 earnings per share. As a group, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.05%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

Several research analysts have recently commented on CI shares. Morgan Stanley reduced their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial lowered their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada cut their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Stephens reduced their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $380.27.

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.