BluePath Capital Management LLC Acquires 768 Shares of The Cigna Group (NYSE:CI)

BluePath Capital Management LLC raised its holdings in The Cigna Group (NYSE:CI) by 32.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,118 shares of the health services provider’s stock after purchasing an additional 768 shares during the quarter. BluePath Capital Management LLC’s holdings in The Cigna Group were worth $881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CI. FMR LLC raised its position in shares of The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in The Cigna Group by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares during the period. Geode Capital Management LLC raised its holdings in The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after acquiring an additional 22,408 shares in the last quarter. Parnassus Investments LLC lifted its position in shares of The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after acquiring an additional 59,011 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The Cigna Group by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after purchasing an additional 44,810 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.2 %

Shares of CI stock opened at $284.49 on Thursday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock’s fifty day simple moving average is $303.49 and its 200 day simple moving average is $327.70. 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 firm has a market capitalization of $79.13 billion, a P/E ratio of 26.84, a P/E/G ratio of 0.88 and a beta of 0.54.

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, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for 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 quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business posted $6.77 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

CI has been the subject of a number of analyst reports. Barclays boosted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $395.93.

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.