Alexander Randolph Advisory Inc. Boosts Stock Position in The Cigna Group (NYSE:CI)

Alexander Randolph Advisory Inc. raised its position in shares of The Cigna Group (NYSE:CI) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,569 shares of the health services provider’s stock after buying an additional 45 shares during the quarter. The Cigna Group comprises about 1.9% of Alexander Randolph Advisory Inc.’s investment portfolio, making the stock its 17th largest holding. Alexander Randolph Advisory Inc.’s holdings in The Cigna Group were worth $2,090,000 at the end of the most recent reporting period.

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

The Cigna Group Stock Performance

NYSE CI opened at $299.92 on Friday. The firm has a market capitalization of $83.42 billion, a P/E ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. The stock has a 50-day simple moving average of $286.35 and a two-hundred day simple moving average of $319.54. 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 fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the firm earned $6.79 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.01%. 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 dividend payout ratio (DPR) is currently 45.75%.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Cantor Fitzgerald cut their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Company 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.