Versant Capital Management Inc raised its position in shares of The Cigna Group (NYSE:CI – Free Report) by 151.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 584 shares of the health services provider’s stock after buying an additional 352 shares during the quarter. Versant Capital Management Inc’s holdings in The Cigna Group were worth $161,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Foundations Investment Advisors LLC grew its stake in The Cigna Group by 70.9% during the 2nd quarter. Foundations Investment Advisors LLC now owns 1,381 shares of the health services provider’s stock valued at $456,000 after acquiring an additional 573 shares in the last quarter. Foster & Motley Inc. boosted its holdings in The Cigna Group by 18.4% in the second quarter. Foster & Motley Inc. now owns 5,447 shares of the health services provider’s stock worth $1,801,000 after purchasing an additional 845 shares in the last quarter. Horizon Investment Services LLC boosted its position in The Cigna Group by 17.3% during the second quarter. Horizon Investment Services LLC now owns 7,406 shares of the health services provider’s stock worth $2,448,000 after purchasing an additional 1,092 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of The Cigna Group by 9.4% during the 2nd quarter. Victory Capital Management Inc. now owns 505,006 shares of the health services provider’s stock worth $166,940,000 after buying an additional 43,476 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in shares of The Cigna Group in the second quarter valued at about $596,000. Institutional investors and hedge funds own 86.99% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Barclays upped their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group lifted their price objective 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. Finally, StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $394.64.
The Cigna Group Trading Up 2.3 %
NYSE CI opened at $280.70 on Friday. The stock has a market capitalization of $78.08 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 0.88 and a beta of 0.50. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock’s 50 day moving average price is $308.92 and its two-hundred day moving average price is $330.94. 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 data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the business posted $6.77 EPS. The business’s revenue was up 29.8% compared to the same quarter last year. As a group, analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.
The Cigna Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.00%. The Cigna Group’s dividend payout ratio is currently 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.
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