Quantbot Technologies LP Acquires New Holdings in The Cigna Group (NYSE:CI)

Quantbot Technologies LP bought a new position in shares of The Cigna Group (NYSE:CI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,991 shares of the health services provider’s stock, valued at approximately $4,847,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the second quarter valued at $33,000. Ulland Investment Advisors LLC raised its position in shares of 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 worth $36,000 after acquiring an additional 100 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the third quarter worth approximately $37,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group in the third quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group during the 2nd quarter valued at approximately $66,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Finally, 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 note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Price Performance

CI opened at $335.07 on Wednesday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $93.20 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 0.99 and a beta of 0.51. The firm’s fifty day moving average price is $334.32 and its two-hundred day moving average price is $338.53.

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

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

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.