Global Wealth Management Investment Advisory Inc. Raises Stock Holdings in The Cigna Group (NYSE:CI)

Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of The Cigna Group (NYSE:CI) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,376 shares of the health services provider’s stock after acquiring an additional 784 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in The Cigna Group were worth $2,313,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $34,000. Ulland Investment Advisors LLC boosted its holdings in shares of 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 purchasing an additional 100 shares during the period. Prospera Private Wealth LLC bought a new position in The Cigna Group in the third quarter worth approximately $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the 3rd quarter worth $45,000. Finally, Heck Capital Advisors LLC bought a new stake in The Cigna Group during the 4th quarter valued at $53,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent research reports. Oppenheimer dropped their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Stephens reduced their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group has an average rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Trading Down 0.2 %

Shares of NYSE:CI opened at $286.67 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The firm has a market capitalization of $79.74 billion, a P/E ratio of 23.42, a P/E/G ratio of 0.94 and a beta of 0.54. The business’s 50-day moving average is $289.85 and its 200 day moving average is $322.63. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company posted $6.79 EPS. On average, research analysts predict that The Cigna Group will post 29.8 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.11%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is presently 45.75%.

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.