AlphaCentric Advisors LLC Buys New Shares in The Cigna Group (NYSE:CI)

AlphaCentric Advisors LLC acquired a new position in The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,965 shares of the health services provider's stock, valued at approximately $543,000.

A number of other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider's stock valued at $138,590,000 after buying an additional 399,230 shares during the last quarter. Swedbank AB lifted its stake in shares of The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock valued at $244,220,000 after acquiring an additional 314,123 shares during the last quarter. FMR LLC grew its holdings in The Cigna Group by 2.0% during the 3rd 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 during the last quarter. Assenagon Asset Management S.A. raised its position in shares of The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider's stock worth $137,483,000 after acquiring an additional 202,161 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in The Cigna Group in the third quarter valued at $69,972,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Piper Sandler reiterated an "overweight" rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their price target 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. UBS Group reduced their price objective on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Finally, Stephens lowered their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $373.69.

The Cigna Group Stock Up 0.9 %

NYSE:CI traded up $2.67 during mid-day trading on Thursday, hitting $299.90. 1,269,997 shares of the company's stock were exchanged, compared to its average volume of 1,794,170. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a market cap of $83.42 billion, a PE ratio of 24.50, a P/E/G ratio of 0.97 and a beta of 0.54. The business has a fifty day moving average price of $285.65 and a 200 day moving average price of $319.92. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the business earned $6.79 EPS. Equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. The Cigna Group's payout ratio is currently 45.75%.

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.