Fiduciary Trust Co Purchases 387 Shares of The Cigna Group (NYSE:CI)

Fiduciary Trust Co raised its holdings in The Cigna Group (NYSE:CI) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,946 shares of the health services provider’s stock after purchasing an additional 387 shares during the period. Fiduciary Trust Co’s holdings in The Cigna Group were worth $6,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The Cigna Group by 1.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 176,076 shares of the health services provider’s stock worth $61,000,000 after purchasing an additional 2,420 shares during the period. Stone House Investment Management LLC boosted its position in shares of The Cigna Group by 25.0% in the third quarter. Stone House Investment Management LLC now owns 200 shares of the health services provider’s stock valued at $69,000 after acquiring an additional 40 shares during the period. CreativeOne Wealth LLC grew its stake in The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after acquiring an additional 35 shares in the last quarter. Bridgewater Associates LP increased its holdings in The Cigna Group by 14.6% during the 3rd quarter. Bridgewater Associates LP now owns 323,836 shares of the health services provider’s stock worth $112,190,000 after acquiring an additional 41,140 shares during the period. Finally, Townsquare Capital LLC lifted its stake in The Cigna Group by 3.8% in the 3rd quarter. Townsquare Capital LLC now owns 35,082 shares of the health services provider’s stock worth $12,154,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CI shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. 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. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Performance

NYSE:CI opened at $336.50 on Friday. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. 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 firm’s fifty day simple moving average is $333.52 and its 200 day simple moving average is $338.51. The stock has a market cap of $93.60 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate 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 business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter last year, the firm posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, research analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 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.