Empower Advisory Group LLC Has $2.87 Million Position in The Cigna Group (NYSE:CI)

Empower Advisory Group LLC raised its position in The Cigna Group (NYSE:CI) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,383 shares of the health services provider’s stock after acquiring an additional 981 shares during the quarter. Empower Advisory Group LLC’s holdings in The Cigna Group were worth $2,867,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Adero Partners LLC increased its position in The Cigna Group by 4.5% during the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after acquiring an additional 34 shares during the period. Waldron Private Wealth LLC increased its holdings in The Cigna Group by 1.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock valued at $1,265,000 after buying an additional 35 shares during the period. CreativeOne Wealth LLC increased its holdings in The Cigna Group by 3.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after buying an additional 35 shares during the period. Smithfield Trust Co increased its holdings in The Cigna Group by 3.6% in the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $373,000 after buying an additional 38 shares during the period. Finally, Griffin Asset Management Inc. increased its holdings in The Cigna Group by 0.6% in the 4th quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider’s stock valued at $1,869,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CI. Morgan Stanley decreased their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price target 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. Piper Sandler restated an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Barclays reduced their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $373.69.

The Cigna Group Stock Up 0.8 %

The Cigna Group stock opened at $294.75 on Wednesday. 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 firm has a 50 day moving average price of $285.91 and a two-hundred day moving average price of $320.38. The firm has a market cap of $81.98 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $6.79 EPS. Equities analysts predict that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The firm 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 dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 45.75%.

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.