Handelsbanken Fonder AB Increases Position in The Cigna Group (NYSE:CI)

Handelsbanken Fonder AB lifted its position in shares of The Cigna Group (NYSE:CI) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 80,145 shares of the health services provider’s stock after buying an additional 2,923 shares during the quarter. Handelsbanken Fonder AB’s holdings in The Cigna Group were worth $22,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CI. Collier Financial purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group during the third quarter valued at approximately $37,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Stephens dropped their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $373.69.

The Cigna Group Price Performance

The Cigna Group stock opened at $299.92 on Friday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a fifty day moving average of $286.35 and a 200-day moving average of $319.60. The firm has a market capitalization of $83.42 billion, a P/E ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $6.79 earnings per share. As a group, analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. The Cigna Group’s dividend payout ratio is 45.75%.

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.