City Holding Co. Purchases 676 Shares of The Cigna Group (NYSE:CI)

City Holding Co. boosted its position in The Cigna Group (NYSE:CI) by 20.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,002 shares of the health services provider’s stock after buying an additional 676 shares during the quarter. City Holding Co.’s holdings in The Cigna Group were worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Ulland Investment Advisors LLC boosted its stake in shares of The Cigna Group by 2,500.0% in the 3rd 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 last quarter. Prospera Private Wealth LLC acquired a new position in The Cigna Group in the third quarter valued at approximately $37,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the fourth quarter valued at approximately $34,000. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group during the 3rd quarter valued at $45,000. Finally, Intact Investment Management Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $69,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CI shares. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Truist Financial reduced their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $395.93.

The Cigna Group Stock Up 1.1 %

NYSE:CI opened at $284.16 on Tuesday. The stock has a 50-day simple moving average of $301.37 and a 200 day simple moving average of $326.80. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market cap of $79.04 billion, a PE ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the company earned $6.77 earnings per share. The firm’s revenue was up 29.8% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

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.