Premier Fund Managers Ltd Has $10.69 Million Position in The Cigna Group (NYSE:CI)

Premier Fund Managers Ltd lifted its stake in The Cigna Group (NYSE:CI) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,741 shares of the health services provider’s stock after acquiring an additional 1,400 shares during the quarter. Premier Fund Managers Ltd’s holdings in The Cigna Group were worth $10,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CI. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter worth about $33,000. Ulland Investment Advisors LLC raised its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group in the third quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group in the second quarter worth approximately $66,000. Finally, Private Ocean LLC grew its position 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 worth $66,000 after acquiring an additional 46 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

NYSE:CI opened at $322.70 on Wednesday. The stock has a market capitalization of $89.76 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm has a 50 day moving average of $337.46 and a 200-day moving average of $339.14.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. 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 presently 52.83%.

Analyst Ratings Changes

Several research firms recently issued reports on CI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group boosted 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. Finally, Barclays increased 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 note on Tuesday, November 5th. One 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 stock. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $394.64.

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.