Sterling Financial Group Inc. Invests $4.37 Million in The Cigna Group (NYSE:CI)

Sterling Financial Group Inc. purchased a new stake in The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,815 shares of the health services provider's stock, valued at approximately $4,367,000. The Cigna Group makes up 1.6% of Sterling Financial Group Inc.'s holdings, making the stock its 13th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of 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 valued at $22,142,000 after buying an additional 8,133 shares during the last quarter. Argent Trust Co increased its position in The Cigna Group by 3.0% in the 2nd quarter. Argent Trust Co now owns 3,877 shares of the health services provider's stock valued at $1,282,000 after acquiring an additional 114 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of The Cigna Group by 10.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,754 shares of the health services provider's stock worth $1,572,000 after acquiring an additional 468 shares during the last quarter. Blair William & Co. IL lifted its position in shares of The Cigna Group by 2.1% during the second quarter. Blair William & Co. IL now owns 44,534 shares of the health services provider's stock worth $14,721,000 after purchasing an additional 935 shares in the last quarter. Finally, Altrius Capital Management Inc grew its stake in shares of The Cigna Group by 1.9% during the second quarter. Altrius Capital Management Inc now owns 13,728 shares of the health services provider's stock valued at $4,538,000 after purchasing an additional 251 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CI shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of 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. StockNews.com downgraded The Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. Barclays raised their price target on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Truist Financial dropped their price objective on The Cigna Group from $420.00 to $390.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $395.93.

The Cigna Group Stock Performance

NYSE CI traded up $4.31 during trading on Friday, reaching $285.28. 1,196,358 shares of the company's stock were exchanged, compared to its average volume of 1,478,220. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a market capitalization of $79.35 billion, a P/E ratio of 26.93, a PEG ratio of 0.75 and a beta of 0.54. The business has a 50 day moving average price of $302.88 and a 200-day moving average price of $327.39. 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 Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating 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 business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the firm posted $6.77 EPS. The company's quarterly revenue was up 29.8% on a year-over-year basis. Sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were paid a $1.40 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.96%. The Cigna Group's dividend payout ratio (DPR) is currently 52.83%.

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.