Portfolio Design Labs LLC Increases Position in The Cigna Group (NYSE:CI)

Portfolio Design Labs LLC lifted its position in The Cigna Group (NYSE:CI) by 59.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,073 shares of the health services provider’s stock after purchasing an additional 3,000 shares during the period. Portfolio Design Labs LLC’s holdings in The Cigna Group were worth $2,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Collier Financial purchased a new stake in shares of The Cigna Group in the fourth quarter worth $32,000. Aubrey Capital Management Ltd increased its stake in shares of The Cigna Group by 91.8% in the fourth quarter. Aubrey Capital Management Ltd now owns 1,849 shares of the health services provider’s stock worth $511,000 after purchasing an additional 885 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in shares of The Cigna Group by 10.3% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 8,376 shares of the health services provider’s stock worth $2,313,000 after purchasing an additional 784 shares in the last quarter. Angeles Wealth Management LLC increased its stake in shares of The Cigna Group by 58.4% in the fourth quarter. Angeles Wealth Management LLC now owns 2,246 shares of the health services provider’s stock worth $620,000 after purchasing an additional 828 shares in the last quarter. Finally, Wilsey Asset Management Inc. increased its stake in shares of The Cigna Group by 3.0% in the fourth quarter. Wilsey Asset Management Inc. now owns 98,157 shares of the health services provider’s stock worth $27,105,000 after purchasing an additional 2,837 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 0.9 %

CI stock opened at $295.46 on Wednesday. The company has a market capitalization of $82.18 billion, a PE ratio of 24.14, a P/E/G ratio of 0.94 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm’s 50-day moving average is $288.96 and its 200 day moving average is $322.16. 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 Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 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 in the previous year, the company posted $6.79 EPS. On average, research analysts anticipate that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given 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 dividend yield of 2.04%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 45.75%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CI. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Morgan Stanley lowered their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Sanford C. Bernstein lowered 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. Finally, Wells Fargo & Company lowered their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $373.69.

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.