Hussman Strategic Advisors Inc. Makes New Investment in The Cigna Group (NYSE:CI)

Hussman Strategic Advisors Inc. purchased a new position in The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,500 shares of the health services provider’s stock, valued at approximately $2,899,000. The Cigna Group comprises approximately 0.9% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 24th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in CI. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $34,000. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at about $37,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at about $45,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CI shares. UBS Group reduced their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Truist Financial reduced their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley reduced their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Cantor Fitzgerald reduced their price target on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $373.69.

The Cigna Group Price Performance

Shares of NYSE CI opened at $297.27 on Thursday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $82.69 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 0.96 and a beta of 0.54. The business has a 50 day simple moving average of $285.65 and a 200-day simple moving average of $319.92.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the company earned $6.79 earnings per share. As a group, equities research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 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.