Eagle Asset Management Inc. Has $3.33 Million Holdings in The Cigna Group (NYSE:CI)

Eagle Asset Management Inc. lifted its position in shares of The Cigna Group (NYSE:CI) by 21.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,397 shares of the health services provider’s stock after purchasing an additional 1,855 shares during the period. Eagle Asset Management Inc.’s holdings in The Cigna Group were worth $3,325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in shares of The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after acquiring an additional 130,048 shares during the last quarter. Parnassus Investments LLC increased its holdings in The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after purchasing an additional 59,011 shares during the period. Dimensional Fund Advisors LP raised its position in The Cigna Group by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after purchasing an additional 150,765 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after buying an additional 405,694 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent analyst reports. Barclays lifted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. One 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 stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $394.64.

The Cigna Group Trading Up 1.3 %

NYSE CI opened at $332.73 on Tuesday. 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 Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The business has a 50 day moving average price of $334.74 and a 200-day moving average price of $338.63. The company has a market cap of $92.55 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 0.99 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the business posted $6.77 EPS. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, equities analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The Cigna Group’s dividend payout ratio (DPR) 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.