Premier Fund Managers Ltd Purchases 1,400 Shares of The Cigna Group (NYSE:CI)

Premier Fund Managers Ltd increased its position in The Cigna Group (NYSE:CI) by 4.8% in the third quarter, Holdings Channel.com reports. The firm owned 30,741 shares of the health services provider’s stock after acquiring an additional 1,400 shares during the period. Premier Fund Managers Ltd’s holdings in The Cigna Group were worth $10,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC grew its holdings in 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 acquiring an additional 100 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group during the second quarter worth $66,000. Finally, Private Ocean LLC lifted its stake in The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after buying an additional 46 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

Shares of CI stock opened at $322.70 on Wednesday. The company’s fifty day simple moving average is $337.46 and its 200-day simple moving average is $339.14. 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 12 month low of $253.95 and a 12 month high of $370.83. The firm has a market cap of $89.76 billion, a PE ratio of 30.44, a P/E/G ratio of 0.97 and a beta of 0.51.

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 business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the previous year, the business earned $6.77 earnings per share. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. Equities research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analyst Ratings Changes

CI has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada cut 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 report on Friday, November 1st. Barclays upped their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their price target 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. 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 MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $394.64.

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.