The Cigna Group (NYSE:CI) Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its holdings in shares of The Cigna Group (NYSE:CI) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,749 shares of the health services provider’s stock after buying an additional 38 shares during the period. Jacobi Capital Management LLC’s holdings in The Cigna Group were worth $483,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in The Cigna Group in the 3rd quarter worth approximately $37,000. Collier Financial acquired a new position in shares of The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group in the 4th quarter valued at $34,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the 3rd quarter valued at $45,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.9 %

Shares of NYSE CI opened at $308.66 on Monday. The stock has a market cap of $85.85 billion, a P/E ratio of 25.22, a P/E/G ratio of 0.98 and a beta of 0.54. The firm has a 50 day moving average price of $289.54 and a 200 day moving average price of $318.52. 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 Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm posted $6.79 EPS. Analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid 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 1.96%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CI. Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Morgan Stanley cut their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $372.31.

About The Cigna Group

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.