Groupama Asset Managment Increases Stock Position in The Cigna Group (NYSE:CI)

Groupama Asset Managment raised its holdings in The Cigna Group (NYSE:CI - Free Report) by 58.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,802 shares of the health services provider's stock after buying an additional 5,819 shares during the quarter. Groupama Asset Managment's holdings in The Cigna Group were worth $5,474,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC increased its stake in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new position in The Cigna Group in the 3rd quarter valued at approximately $37,000. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group during the third quarter valued at approximately $45,000. Finally, Private Ocean LLC increased its stake in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider's stock worth $66,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CI. Piper Sandler reissued an "overweight" rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Barclays increased their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their price target on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $394.64.

The Cigna Group Stock Up 0.1 %

NYSE CI traded up $0.20 during trading hours on Monday, hitting $318.01. 1,155,539 shares of the company were exchanged, compared to its average volume of 1,542,493. The Cigna Group has a 52-week low of $288.88 and a 52-week high of $370.83. The firm has a market cap of $88.45 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 0.96 and a beta of 0.50. 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 company has a 50 day moving average of $331.01 and a two-hundred day moving average of $338.05.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the prior year, the firm posted $6.77 earnings per share. The firm's revenue was up 29.8% on a year-over-year basis. Equities research analysts anticipate that The Cigna Group will post 28.49 earnings per share 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. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's payout ratio is currently 52.83%.

About The Cigna Group

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.