Farther Finance Advisors LLC Acquires 1,692 Shares of The Cigna Group (NYSE:CI)

Farther Finance Advisors LLC grew its holdings in shares of The Cigna Group (NYSE:CI) by 93.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,505 shares of the health services provider’s stock after acquiring an additional 1,692 shares during the quarter. Farther Finance Advisors LLC’s holdings in The Cigna Group were worth $1,160,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Daymark Wealth Partners LLC lifted its position in The Cigna Group by 10.1% in the 1st quarter. Daymark Wealth Partners LLC now owns 1,179 shares of the health services provider’s stock worth $388,000 after buying an additional 108 shares during the last quarter. Portside Wealth Group LLC lifted its position in The Cigna Group by 2.6% in the 1st quarter. Portside Wealth Group LLC now owns 3,613 shares of the health services provider’s stock worth $1,189,000 after buying an additional 92 shares during the last quarter. Moss Adams Wealth Advisors LLC bought a new stake in The Cigna Group in the 1st quarter worth approximately $228,000. Courier Capital LLC bought a new stake in The Cigna Group in the 1st quarter worth approximately $282,000. Finally, Capital Investment Advisors LLC lifted its position in The Cigna Group by 36.9% in the 1st quarter. Capital Investment Advisors LLC now owns 1,584 shares of the health services provider’s stock worth $521,000 after buying an additional 427 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.5%

NYSE CI opened at $314.93 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a market cap of $84.13 billion, a P/E ratio of 25.73, a P/E/G ratio of 0.98 and a beta of 0.44. The stock’s fifty day moving average price is $322.23 and its 200-day moving average price is $308.70. 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 (NYSE:CI) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the prior year, the firm posted $6.47 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.92%. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Analysts Set New Price Targets

CI has been the subject of several recent research reports. Robert W. Baird lowered their price objective on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Truist Financial boosted their price objective on The Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $371.00 price objective on shares of The Cigna Group in a research report on Tuesday, June 3rd. Piper Sandler boosted their target price on The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Morgan Stanley boosted their target price on The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $380.39.

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.