Concurrent Investment Advisors LLC Has $1.07 Million Stake in The Cigna Group (NYSE:CI)

Concurrent Investment Advisors LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,862 shares of the health services provider’s stock after selling 202 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in The Cigna Group were worth $1,066,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in The Cigna Group by 49,287.7% during the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares during the period. Swedbank AB boosted its holdings in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after acquiring an additional 314,123 shares during the period. FMR LLC boosted its holdings in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after acquiring an additional 279,880 shares during the period. Assenagon Asset Management S.A. boosted its holdings in The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after acquiring an additional 202,161 shares during the period. Finally, World Investment Advisors LLC bought a new stake in The Cigna Group during the third quarter valued at about $69,972,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CI. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reduced their target price 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. UBS Group reduced their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Truist Financial reduced their target price 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. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Stock Performance

NYSE:CI opened at $299.92 on Friday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $83.42 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The firm has a 50-day moving average price of $286.35 and a 200 day moving average price of $319.54.

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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the business posted $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.75%.

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.