Portfolio Design Labs LLC Makes New $1.76 Million Investment in The Cigna Group (NYSE:CI)

Portfolio Design Labs LLC purchased a new position in The Cigna Group (NYSE:CI - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,073 shares of the health services provider's stock, valued at approximately $1,757,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider's stock valued at $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider's stock valued at $510,467,000 after purchasing an additional 600,215 shares in the last quarter. Swedbank AB bought a new position in shares of The Cigna Group in the first quarter valued at approximately $161,300,000. Ameriprise Financial Inc. lifted its holdings in shares of The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider's stock valued at $706,822,000 after purchasing an additional 405,694 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in The Cigna Group by 145.3% during the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider's stock worth $225,899,000 after acquiring an additional 404,791 shares during the period. Institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stephens reiterated an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. 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 report on Monday, November 4th. Royal Bank of Canada dropped their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. StockNews.com lowered The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and a consensus target price of $394.64.

The Cigna Group Stock Up 0.3 %

Shares of CI traded up $0.86 on Wednesday, hitting $323.36. 1,527,310 shares of the stock traded hands, compared to its average volume of 1,542,903. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a market capitalization of $89.94 billion, a PE ratio of 30.44, a P/E/G ratio of 0.97 and a beta of 0.51. The business has a 50 day simple moving average of $337.46 and a 200 day simple moving average of $339.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

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 EPS for the quarter, topping 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 firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the business posted $6.77 earnings per share. The business's revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.73%. The Cigna Group's payout ratio is 52.83%.

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.