Miracle Mile Advisors LLC Purchases 105 Shares of The Cigna Group (NYSE:CI)

Miracle Mile Advisors LLC grew its position in The Cigna Group (NYSE:CI) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,681 shares of the health services provider’s stock after purchasing an additional 105 shares during the period. Miracle Mile Advisors LLC’s holdings in The Cigna Group were worth $4,606,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its holdings in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares in the last quarter. Geode Capital Management LLC raised its holdings in The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares in the last quarter. Parnassus Investments LLC increased its position in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after buying an additional 59,011 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in The Cigna Group by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after buying an additional 150,765 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Up 0.9 %

Shares of NYSE:CI opened at $281.54 on Tuesday. The company has a market capitalization of $78.31 billion, a P/E ratio of 26.56, a P/E/G ratio of 0.88 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50 day simple moving average is $304.16 and its 200 day simple moving average is $328.02.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the prior year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.99%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CI shares. Truist Financial lowered their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $395.93.

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.