Prospector Partners LLC Has $14.21 Million Stock Position in The Cigna Group (NYSE:CI)

Prospector Partners LLC raised its holdings in shares of The Cigna Group (NYSE:CI) by 0.4% in the third quarter, Holdings Channel reports. The institutional investor owned 41,018 shares of the health services provider’s stock after buying an additional 160 shares during the quarter. The Cigna Group accounts for about 1.5% of Prospector Partners LLC’s portfolio, making the stock its 26th biggest holding. Prospector Partners LLC’s holdings in The Cigna Group were worth $14,210,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. TruNorth Capital Management LLC acquired a new position in The Cigna Group during the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC increased its holdings in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the third quarter valued at about $37,000. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group in the third quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group during the second quarter worth about $66,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

NYSE:CI opened at $332.73 on Tuesday. The stock has a market capitalization of $92.55 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. 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 Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm has a 50 day moving average of $334.74 and a 200-day moving average of $338.63.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm 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 business’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm posted $6.77 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.68%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Barclays upped their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada lowered their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped 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 note on Monday, November 4th. Finally, StockNews.com lowered 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $394.64.

About The Cigna Group

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.