Pine Valley Investments Ltd Liability Co Acquires 1,653 Shares of The Cigna Group (NYSE:CI)

Pine Valley Investments Ltd Liability Co increased its stake in The Cigna Group (NYSE:CI) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,366 shares of the health services provider’s stock after purchasing an additional 1,653 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in The Cigna Group were worth $4,796,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the third quarter worth $37,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at about $34,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group in the 3rd quarter valued at about $45,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $300.80 on Tuesday. The business’s fifty day simple moving average is $286.90 and its 200 day simple moving average is $319.23. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market capitalization of $83.67 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm earned $6.79 EPS. As a group, analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays decreased their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Oppenheimer decreased their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Stephens decreased their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.