Asset Management One Co. Ltd. lifted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 125,898 shares of the health services provider's stock after purchasing an additional 3,565 shares during the period. Asset Management One Co. Ltd.'s holdings in The Cigna Group were worth $35,080,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC boosted its position in The Cigna Group by 24.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 3,637 shares of the health services provider's stock valued at $1,004,000 after buying an additional 723 shares during the period. Kentucky Trust Co purchased a new position in The Cigna Group during the 4th quarter valued at about $136,000. Certuity LLC raised its position in The Cigna Group by 86.2% during the 4th quarter. Certuity LLC now owns 1,896 shares of the health services provider's stock valued at $524,000 after purchasing an additional 878 shares during the last quarter. Portfolio Design Labs LLC grew its position in shares of The Cigna Group by 59.1% in the 4th quarter. Portfolio Design Labs LLC now owns 8,073 shares of the health services provider's stock worth $2,229,000 after buying an additional 3,000 shares during the last quarter. Finally, Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
The Cigna Group Stock Performance
Shares of CI traded up $3.64 during mid-day trading on Tuesday, hitting $295.96. 997,765 shares of the company traded hands, compared to its average volume of 1,785,910. 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 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a 50-day moving average price of $285.91 and a two-hundred day moving average price of $320.38. The stock has a market cap of $82.32 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 0.94 and a beta of 0.54.
The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results 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 previous year, the business earned $6.79 EPS. Equities analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current year.
The Cigna Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.04%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is presently 45.75%.
Analyst Ratings Changes
Several research analysts have commented on CI shares. Piper Sandler restated an "overweight" rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Barclays decreased their price objective on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $373.69.
Get Our Latest Stock Analysis on CI
About The Cigna Group
(
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.
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