Avanza Fonder AB Takes Position in The Cigna Group (NYSE:CI)

Avanza Fonder AB bought a new position in The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,411 shares of the health services provider's stock, valued at approximately $6,465,000.

Several other hedge funds have also modified their holdings of the stock. ORG Wealth Partners LLC acquired a new position in The Cigna Group during the fourth quarter valued at approximately $34,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group during the third quarter worth $45,000. Finally, Intact Investment Management Inc. acquired a new position in shares of The Cigna Group during the third quarter worth $69,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

CI stock traded up $3.19 during trading on Friday, hitting $284.16. The company had a trading volume of 1,892,393 shares, compared to its average volume of 1,847,029. The firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 0.75 and a beta of 0.54. The business has a 50 day moving average of $301.37 and a 200 day moving average of $326.78. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts' consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the company earned $6.77 EPS. The Cigna Group's revenue was up 29.8% on a year-over-year basis. As a group, research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.97%. The Cigna Group's payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CI. Barclays boosted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Piper Sandler restated an "overweight" rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Finally, Truist Financial dropped their price target on shares of The Cigna Group from $420.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $395.93.

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.