Oak Thistle LLC Purchases Shares of 3,725 The Cigna Group (NYSE:CI)

Oak Thistle LLC acquired a new stake in shares of The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,725 shares of the health services provider's stock, valued at approximately $1,029,000.

Several other institutional investors and hedge funds have also made changes to their positions in CI. Envestnet Asset Management Inc. boosted its stake in shares of The Cigna Group by 3.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 307,177 shares of the health services provider's stock valued at $101,544,000 after buying an additional 10,011 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of The Cigna Group by 425.9% in the 2nd quarter. Renaissance Technologies LLC now owns 169,659 shares of the health services provider's stock valued at $56,084,000 after purchasing an additional 137,400 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of The Cigna Group by 2.1% during the second quarter. Mutual of America Capital Management LLC now owns 43,895 shares of the health services provider's stock worth $14,510,000 after purchasing an additional 902 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in The Cigna Group by 13.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 66,980 shares of the health services provider's stock worth $22,142,000 after purchasing an additional 8,133 shares in the last quarter. Finally, Argent Trust Co increased its holdings in The Cigna Group by 3.0% in the second quarter. Argent Trust Co now owns 3,877 shares of the health services provider's stock valued at $1,282,000 after buying an additional 114 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $3.52 during midday trading on Thursday, hitting $281.06. 1,474,957 shares of the company's stock were exchanged, compared to its average volume of 1,445,727. The Cigna Group has a twelve month low of $262.03 and a twelve month 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 firm has a market cap of $78.18 billion, a P/E ratio of 26.52, a PEG ratio of 0.75 and a beta of 0.54. The stock's 50 day moving average price is $303.49 and its 200-day moving average price is $327.70.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during 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 company's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.77 earnings per share. Equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business 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. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.99%. The Cigna Group's payout ratio is 52.83%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CI. Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Stephens reaffirmed an "overweight" rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Truist Financial dropped their target price on shares of The Cigna Group from $420.00 to $390.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Finally, Barclays increased their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $395.93.

About The Cigna Group

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.