Erste Asset Management GmbH Purchases Shares of 50,724 The Cigna Group (NYSE:CI)

Erste Asset Management GmbH acquired a new position in shares of The Cigna Group (NYSE:CI) in the 3rd quarter, Holdings Channel reports. The fund acquired 50,724 shares of the health services provider’s stock, valued at approximately $17,630,000.

Other hedge funds have also modified their holdings of the company. FMR LLC lifted its stake in The Cigna Group by 2.0% in the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after purchasing an additional 130,048 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after purchasing an additional 59,011 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in The Cigna Group by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after purchasing an additional 150,765 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in The Cigna Group by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after purchasing an additional 44,810 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Up 0.4 %

Shares of CI stock opened at $337.80 on Monday. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The company has a market capitalization of $93.96 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51. The firm has a 50 day moving average price of $333.16 and a two-hundred day moving average price of $338.34. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the firm posted $6.77 EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, analysts predict that The Cigna Group will post 28.5 earnings per share for the current 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 paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Barclays upped their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $394.64.

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.