Vontobel Holding Ltd. Boosts Position in The Cigna Group (NYSE:CI)

Vontobel Holding Ltd. raised its stake in shares of The Cigna Group (NYSE:CI) by 5.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,778 shares of the health services provider’s stock after buying an additional 1,334 shares during the quarter. Vontobel Holding Ltd.’s holdings in The Cigna Group were worth $6,842,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the fourth quarter worth approximately $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the third quarter worth approximately $37,000. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the third quarter worth approximately $45,000. Finally, Heck Capital Advisors LLC bought a new position in shares of The Cigna Group in the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $292.12 on Friday. The stock has a fifty day moving average of $286.46 and a 200 day moving average of $321.09. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a market capitalization of $81.25 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 0.94 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 quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the business posted $6.79 earnings per share. As a group, research analysts expect that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.07%. The Cigna Group’s dividend payout ratio is 45.75%.

Wall Street Analysts Forecast Growth

CI has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Truist Financial cut their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Moderate Buy” and an average price target of $373.69.

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.