Country Club Bank Raises Holdings in The Cigna Group (NYSE:CI)

Country Club Bank boosted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 39.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,461 shares of the health services provider's stock after purchasing an additional 4,645 shares during the period. Country Club Bank's holdings in The Cigna Group were worth $4,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CI. International Assets Investment Management LLC raised its position in shares of The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider's stock worth $138,590,000 after acquiring an additional 399,230 shares during the period. Swedbank AB raised its holdings in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock worth $244,220,000 after purchasing an additional 314,123 shares during the period. FMR LLC boosted its position in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock worth $4,929,978,000 after purchasing an additional 279,880 shares in the last quarter. Raymond James & Associates grew its holdings in The Cigna Group by 42.8% in the third quarter. Raymond James & Associates now owns 860,050 shares of the health services provider's stock valued at $297,956,000 after purchasing an additional 257,711 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of The Cigna Group by 68.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider's stock valued at $137,483,000 after buying an additional 202,161 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced 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. Oppenheimer decreased their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Piper Sandler restated an "overweight" rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday. Raymond James reissued a "strong-buy" rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Stephens cut 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 report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $376.63.

The Cigna Group Stock Up 0.5 %

NYSE:CI traded up $1.54 during trading hours on Wednesday, hitting $293.00. The company's stock had a trading volume of 1,781,793 shares, compared to its average volume of 1,870,778. The stock has a fifty day moving average of $292.73 and a 200-day moving average of $323.53. The stock has a market capitalization of $81.50 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 period last year, the company earned $6.79 earnings per share. On average, equities analysts forecast that The Cigna Group will post 29.66 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) 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.