Newbridge Financial Services Group Inc. Purchases Shares of 407 The Cigna Group (NYSE:CI)

Newbridge Financial Services Group Inc. acquired a new position in The Cigna Group (NYSE:CI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 407 shares of the health services provider’s stock, valued at approximately $112,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Financial Group Inc. acquired a new stake in The Cigna Group during the fourth quarter valued at $4,367,000. Marks Group Wealth Management Inc grew its position in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares during the period. Principal Financial Group Inc. grew its position in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares during the period. Trinity Street Asset Management LLP increased its stake in shares of The Cigna Group by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after purchasing an additional 5,397 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after purchasing an additional 858 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Royal Bank of Canada reduced their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald dropped their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target 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. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $292.74 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The business’s 50 day moving average price is $289.85 and its 200 day moving average price is $322.50. The company has a market cap of $81.43 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 0.94 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

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

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. 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. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. The Cigna Group’s dividend payout ratio is 49.35%.

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.