Shikiar Asset Management Inc. boosted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 28.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,722 shares of the health services provider's stock after buying an additional 7,397 shares during the period. The Cigna Group makes up about 2.5% of Shikiar Asset Management Inc.'s holdings, making the stock its 10th biggest position. Shikiar Asset Management Inc.'s holdings in The Cigna Group were worth $9,312,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group during the 4th quarter valued at $34,000. Ulland Investment Advisors LLC boosted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group in the third quarter valued at about $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the 3rd quarter worth about $45,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter worth about $69,000. 86.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on CI. Piper Sandler reissued an "overweight" rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Stephens restated an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $395.93.
Read Our Latest Stock Analysis on The Cigna Group
The Cigna Group Stock Performance
NYSE:CI traded up $3.19 during mid-day trading on Friday, hitting $284.16. 1,892,393 shares of the company's stock traded hands, compared to its average volume of 1,847,029. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $301.37 and a two-hundred day moving average of $326.79. The firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.
The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.77 earnings per share. On average, 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 business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group's payout ratio is presently 52.83%.
About The Cigna Group
(
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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