Wedge Capital Management L L P NC Has $34.54 Million Holdings in The Cigna Group (NYSE:CI)

Wedge Capital Management L L P NC grew its position in shares of The Cigna Group (NYSE:CI - Free Report) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,066 shares of the health services provider's stock after purchasing an additional 11,636 shares during the period. Wedge Capital Management L L P NC's holdings in The Cigna Group were worth $34,536,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CI. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Ulland Investment Advisors LLC raised its stake in shares of 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 period. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group during the third quarter valued at approximately $45,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of The Cigna Group during the third quarter valued at approximately $69,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Performance

Shares of CI traded up $3.19 during midday trading on Friday, hitting $284.16. 1,892,393 shares of the stock traded hands, compared to its average volume of 1,847,029. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market capitalization of $79.04 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. 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 business's 50 day moving average price is $301.37 and its two-hundred day moving average price is $326.78.

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, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company's quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.77 earnings per share. Equities research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. StockNews.com lowered shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Truist Financial dropped their price target on shares of The Cigna Group from $420.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Stephens restated an "overweight" rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Barclays boosted 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $395.93.

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.