The Cigna Group (NYSE:CI) Holdings Lifted by Fortem Financial Group LLC

Fortem Financial Group LLC boosted its holdings in The Cigna Group (NYSE:CI) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,868 shares of the health services provider’s stock after acquiring an additional 101 shares during the quarter. Fortem Financial Group LLC’s holdings in The Cigna Group were worth $792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CI. Versant Capital Management Inc lifted its position in shares of The Cigna Group by 151.7% during the 4th quarter. Versant Capital Management Inc now owns 584 shares of the health services provider’s stock valued at $161,000 after acquiring an additional 352 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of The Cigna Group by 39.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 6,417 shares of the health services provider’s stock valued at $2,223,000 after purchasing an additional 1,823 shares during the period. Copley Financial Group Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $433,000. Finally, Synovus Financial Corp increased its stake in The Cigna Group by 3.0% in the 3rd quarter. Synovus Financial Corp now owns 6,994 shares of the health services provider’s stock worth $2,424,000 after purchasing an additional 206 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Truist Financial decreased their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research report on Monday. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Jefferies Financial Group raised 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. One equities research 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 company. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $395.93.

The Cigna Group Stock Performance

CI stock traded down $1.75 during mid-day trading on Monday, reaching $278.95. 773,450 shares of the stock traded hands, compared to its average volume of 1,025,314. 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 business has a 50-day moving average of $308.20 and a two-hundred day moving average of $330.51. The firm has a market capitalization of $77.59 billion, a PE ratio of 26.32, a P/E/G ratio of 0.88 and a beta of 0.54. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last released its 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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter last year, the firm posted $6.77 EPS. The company’s revenue was up 29.8% on a year-over-year basis. As a group, equities analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued 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 2.01%. The Cigna Group’s payout ratio is 52.83%.

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.