Ridgewood Investments LLC Acquires Shares of 251 The Cigna Group (NYSE:CI)

Posted by Defense World Staff on Jul 11th, 2023

Ridgewood Investments LLC bought a new position in shares of The Cigna Group (NYSE:CI – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 251 shares of the health services provider’s stock, valued at approximately $64,000.

Other large investors have also added to or reduced their stakes in the company. Archer Investment Corp raised its position in shares of The Cigna Group by 469.2% in the fourth quarter. Archer Investment Corp now owns 74 shares of the health services provider’s stock valued at $25,000 after buying an additional 61 shares in the last quarter. Pacifica Partners Inc. lifted its position in shares of The Cigna Group by 95.2% during the 4th quarter. Pacifica Partners Inc. now owns 82 shares of the health services provider’s stock valued at $27,000 after acquiring an additional 40 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of The Cigna Group in the first quarter worth $29,000. Glass Jacobson Investment Advisors llc bought a new stake in The Cigna Group during the fourth quarter worth about $30,000. Finally, MBM Wealth Consultants LLC acquired a new stake in The Cigna Group during the fourth quarter worth about $36,000. Institutional investors own 85.63% of the company’s stock.

The Cigna Group Stock Up 0.4 %

CI stock opened at $278.34 on Tuesday. The stock has a market cap of $82.35 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.00 and a beta of 0.65. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $340.11. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $263.46 and its two-hundred day simple moving average is $278.93.

The Cigna Group (NYSE:CI – Get Free Report) last announced its quarterly earnings data on Friday, May 5th. The health services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.23 by $0.18. The business had revenue of $46.52 billion for the quarter, compared to analyst estimates of $45.43 billion. The Cigna Group had a net margin of 3.69% and a return on equity of 12.65%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.01 earnings per share. Analysts expect that The Cigna Group will post 24.82 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Stockholders of record on Wednesday, June 7th were given a dividend of $1.23 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $4.92 dividend on an annualized basis and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio is presently 22.42%.

Analyst Ratings Changes

Several analysts recently issued reports on CI shares. Royal Bank of Canada reduced their price target on shares of The Cigna Group from $333.00 to $287.00 in a research report on Monday, May 8th. Cantor Fitzgerald initiated coverage on shares of The Cigna Group in a research report on Thursday, April 20th. They set a “neutral” rating and a $285.00 target price on the stock. Sanford C. Bernstein cut their target price on The Cigna Group from $367.00 to $293.00 in a report on Wednesday, April 26th. Mizuho reaffirmed a “buy” rating and issued a $360.00 price objective on shares of The Cigna Group in a research note on Thursday, March 30th. Finally, Truist Financial lowered their price target on shares of The Cigna Group from $375.00 to $365.00 in a report on Tuesday, June 20th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has a consensus rating of “Moderate Buy” and a consensus price target of $330.18.

Insider Transactions at The Cigna Group

In related news, Director Donna F. Zarcone sold 757 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $253.29, for a total value of $191,740.53. Following the sale, the director now directly owns 25,558 shares in the company, valued at approximately $6,473,585.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Company Profile

(Free Report)

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.