Chicago Partners Investment Group LLC Boosts Position in The Cigna Group (NYSE:CI)

Chicago Partners Investment Group LLC raised its stake in The Cigna Group (NYSE:CI) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,601 shares of the health services provider’s stock after purchasing an additional 379 shares during the period. Chicago Partners Investment Group LLC’s holdings in The Cigna Group were worth $1,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Algert Global LLC purchased a new position in The Cigna Group during the 2nd quarter worth approximately $523,000. Clearbridge Investments LLC boosted its holdings in shares of The Cigna Group by 154.9% in the second quarter. Clearbridge Investments LLC now owns 3,525 shares of the health services provider’s stock valued at $1,165,000 after acquiring an additional 2,142 shares during the period. AMF Tjanstepension AB grew its position in shares of The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after acquiring an additional 11,550 shares during the last quarter. Czech National Bank increased its holdings in shares of The Cigna Group by 5.2% in the 3rd quarter. Czech National Bank now owns 56,947 shares of the health services provider’s stock valued at $19,729,000 after acquiring an additional 2,813 shares during the period. Finally, Harbor Investment Advisory LLC raised its position in The Cigna Group by 3.4% in the 3rd quarter. Harbor Investment Advisory LLC now owns 1,725 shares of the health services provider’s stock valued at $597,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Cantor Fitzgerald dropped their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley reduced their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial dropped their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Barclays dropped their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $380.27.

The Cigna Group Stock Up 3.9 %

Shares of NYSE CI opened at $293.99 on Monday. The firm’s 50-day moving average is $294.40 and its two-hundred day moving average is $324.33. The company has a market capitalization of $81.77 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 0.82 and a beta of 0.54. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same period in the previous year, the company earned $6.79 earnings per share. Equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is currently 49.35%.

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.