The Cigna Group (NYSE:CI) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 353.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,800 shares of the health services provider's stock after buying an additional 9,198 shares during the quarter. Meeder Asset Management Inc.'s holdings in The Cigna Group were worth $4,088,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new position in The Cigna Group during the 1st quarter worth approximately $1,763,000. UniSuper Management Pty Ltd grew its position in The Cigna Group by 175.9% during the first quarter. UniSuper Management Pty Ltd now owns 6,780 shares of the health services provider's stock worth $2,462,000 after buying an additional 4,323 shares during the period. Bessemer Group Inc. lifted its position in shares of The Cigna Group by 23.3% during the 1st quarter. Bessemer Group Inc. now owns 28,097 shares of the health services provider's stock valued at $10,205,000 after acquiring an additional 5,308 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of The Cigna Group by 55.3% during the 1st quarter. Lake Street Advisors Group LLC now owns 3,629 shares of the health services provider's stock worth $1,318,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in The Cigna Group in the 1st quarter valued at approximately $101,000. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Trading Up 0.1 %

Shares of CI traded up $0.25 during mid-day trading on Tuesday, hitting $322.70. The company had a trading volume of 1,322,431 shares, compared to its average volume of 1,542,972. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The business's 50-day simple moving average is $337.46 and its 200-day simple moving average is $339.14. The stock has a market cap of $89.76 billion, a PE ratio of 30.44, a P/E/G ratio of 0.97 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI - Get Free Report) last announced 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 company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group's revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the business earned $6.77 EPS. Sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The Cigna Group's dividend payout ratio (DPR) is 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of research reports. StockNews.com cut shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Jefferies Financial Group raised their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. Royal Bank of Canada cut their price objective on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Barclays upped their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of "Buy" and a consensus price target of $394.64.

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.