Fiduciary Trust Co Acquires 387 Shares of The Cigna Group (NYSE:CI)

by · The Markets Daily

Fiduciary Trust Co boosted its stake in The Cigna Group (NYSE:CI – Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,946 shares of the health services provider’s stock after purchasing an additional 387 shares during the period. Fiduciary Trust Co’s holdings in The Cigna Group were worth $6,910,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the second quarter worth $33,000. Ulland Investment Advisors LLC grew its holdings in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the 3rd quarter worth about $37,000. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the 3rd quarter worth about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of The Cigna Group in the 2nd quarter valued at about $66,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $336.50 on Friday. The company has a market cap of $93.60 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The business has a 50 day moving average price of $333.52 and a 200-day moving average price of $338.51.

The Cigna Group (NYSE:CI – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for 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 business’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. Equities analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.66%. The Cigna Group’s payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CI shares. Jefferies Financial Group raised their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average target price of $394.64.

Read Our Latest Report on CI

About The Cigna Group

(Free Report)

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.

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