Nomura Asset Management Co. Ltd. increased its position in shares of The Cigna Group (NYSE:CI - Free Report) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,479 shares of the health services provider's stock after acquiring an additional 6,585 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in The Cigna Group were worth $36,542,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its stake in The Cigna Group by 23.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,626 shares of the health services provider's stock worth $1,529,000 after buying an additional 868 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of The Cigna Group by 3.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 35,851 shares of the health services provider's stock valued at $11,851,000 after acquiring an additional 1,073 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in shares of The Cigna Group by 0.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,948 shares of the health services provider's stock valued at $2,627,000 after purchasing an additional 66 shares during the last quarter. ORG Partners LLC acquired a new stake in The Cigna Group in the 2nd quarter worth approximately $489,000. Finally, Sky Investment Group LLC purchased a new stake in The Cigna Group during the 2nd quarter worth approximately $410,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
Analysts Set New Price Targets
A number of research firms have issued reports on CI. 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. Royal Bank of Canada lowered their price target 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. Piper Sandler reissued an "overweight" rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $394.64.
Check Out Our Latest Stock Analysis on The Cigna Group
The Cigna Group Price Performance
CI stock traded down $7.78 during mid-day trading on Tuesday, reaching $311.37. 2,610,446 shares of the company's stock were exchanged, compared to its average volume of 1,551,353. 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 Cigna Group has a 12-month low of $288.88 and a 12-month high of $370.83. The stock's 50 day moving average is $330.47 and its 200 day moving average is $337.91. The company has a market cap of $86.61 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50.
The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $6.77 EPS. On average, research analysts expect that The Cigna Group will post 28.49 EPS for the current year.
The Cigna Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's payout ratio is 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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