Alberta Investment Management Corp Buys New Shares in The Cigna Group (NYSE:CI)

Alberta Investment Management Corp bought a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,200 shares of the health services provider’s stock, valued at approximately $608,000.

A number of other institutional investors have also recently bought and sold shares of CI. Collier Financial purchased a new stake in The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group during the fourth quarter worth approximately $34,000. Prospera Private Wealth LLC purchased a new stake in The Cigna Group during the third quarter worth approximately $37,000. Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group during the fourth quarter worth approximately $37,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group during the third quarter worth approximately $45,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CI has been the subject of several research reports. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Truist Financial decreased their price objective on shares of 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. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 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. Finally, Barclays reduced their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Trading Up 0.1 %

CI opened at $299.92 on Friday. The stock has a market capitalization of $83.42 billion, a PE ratio of 24.50, a P/E/G ratio of 0.98 and a beta of 0.54. The firm’s fifty day moving average price is $286.35 and its 200 day moving average price is $319.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 last year, the firm earned $6.79 earnings per share. As a group, research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

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

The Cigna Group 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.