Intech Investment Management LLC grew its position in The Cigna Group (NYSE:CI - Free Report) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,054 shares of the health services provider's stock after buying an additional 7,304 shares during the quarter. Intech Investment Management LLC's holdings in The Cigna Group were worth $25,309,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group in the second quarter valued at $33,000. Ulland Investment Advisors LLC increased its position in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in The Cigna Group during the 3rd quarter worth about $37,000. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group during the 3rd quarter worth about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group during the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on CI shares. Piper Sandler reiterated an "overweight" rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Barclays lifted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group raised their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $394.64.
Check Out Our Latest Research Report on CI
The Cigna Group Stock Performance
NYSE CI opened at $323.36 on Thursday. The firm has a market capitalization of $89.94 billion, a P/E ratio of 30.51, a P/E/G ratio of 0.97 and a beta of 0.51. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The business's 50-day simple moving average is $336.78 and its 200-day simple moving average is $339.03.
The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company's revenue was up 29.8% on a year-over-year basis. During the same period last year, the business posted $6.77 EPS. Equities analysts predict that The Cigna Group will post 28.5 EPS for the current year.
The Cigna Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.73%. The Cigna Group's payout ratio is currently 52.83%.
The Cigna Group 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.
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