Tidal Investments LLC Acquires 1,576 Shares of The Cigna Group (NYSE:CI)

Tidal Investments LLC boosted its holdings in The Cigna Group (NYSE:CI) by 11.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,520 shares of the health services provider’s stock after acquiring an additional 1,576 shares during the period. Tidal Investments LLC’s holdings in The Cigna Group were worth $5,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of The Cigna Group by 145.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after purchasing an additional 404,791 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after purchasing an additional 399,230 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in The Cigna Group by 526.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after purchasing an additional 305,490 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. Jefferies Financial Group increased their price objective 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. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target 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. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $394.64.

The Cigna Group Trading Down 0.4 %

Shares of NYSE CI opened at $281.86 on Friday. The firm has a 50 day moving average price of $326.45 and a two-hundred day moving average price of $336.73. The stock has a market cap of $78.40 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50. The Cigna Group has a 52-week low of $279.88 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 Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $6.77 EPS. As a group, equities analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.