The Cigna Group (NYSE:CI) Stock Position Raised by Prospector Partners LLC

Prospector Partners LLC increased its stake in The Cigna Group (NYSE:CI) by 0.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,018 shares of the health services provider’s stock after acquiring an additional 160 shares during the quarter. The Cigna Group makes up 1.5% of Prospector Partners LLC’s holdings, making the stock its 26th largest holding. Prospector Partners LLC’s holdings in The Cigna Group were worth $14,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CI. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC boosted its position in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group during the third quarter valued at $37,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the third quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in The Cigna Group during the second quarter valued at $66,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CI has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Barclays boosted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $332.73 on Tuesday. The business’s 50-day simple moving average is $334.74 and its 200-day simple moving average is $338.63. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $92.55 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 0.99 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the company posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities research analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

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.