The Cigna Group (NYSE:CI) Shares Bought by Prospera Financial Services Inc

Prospera Financial Services Inc lifted its stake in shares of The Cigna Group (NYSE:CI) by 9.2% during the third quarter, Holdings Channel reports. The fund owned 1,378 shares of the health services provider’s stock after purchasing an additional 116 shares during the quarter. Prospera Financial Services Inc’s holdings in The Cigna Group were worth $480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its holdings in shares of The Cigna Group by 353.5% during the third quarter. Meeder Asset Management Inc. now owns 11,800 shares of the health services provider’s stock worth $4,088,000 after buying an additional 9,198 shares in the last quarter. OneAscent Financial Services LLC acquired a new stake in The Cigna Group during the third quarter worth approximately $454,000. OneAscent Wealth Management LLC purchased a new stake in The Cigna Group in the 3rd quarter worth approximately $358,000. AMG National Trust Bank raised its holdings in The Cigna Group by 5.7% in the 3rd quarter. AMG National Trust Bank now owns 4,072 shares of the health services provider’s stock valued at $1,411,000 after acquiring an additional 218 shares during the last quarter. Finally, Aljian Capital Management LLC purchased a new position in shares of The Cigna Group during the 3rd quarter worth $324,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.5 %

Shares of CI opened at $328.45 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock has a market cap of $91.36 billion, a PE ratio of 30.99, a P/E/G ratio of 0.99 and a beta of 0.51. The stock’s 50-day moving average is $335.43 and its two-hundred day moving average is $338.82.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 EPS. Equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Analysts Set New Price Targets

CI has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Barclays increased their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $394.64.

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.