LGT Fund Management Co Ltd. Acquires 3,150 Shares of The Cigna Group (NYSE:CI)

LGT Fund Management Co Ltd. increased its holdings in The Cigna Group (NYSE:CI) by 67.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,850 shares of the health services provider’s stock after acquiring an additional 3,150 shares during the period. LGT Fund Management Co Ltd.’s holdings in The Cigna Group were worth $2,168,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sterling Financial Group Inc. bought a new position in The Cigna Group during the fourth quarter valued at $4,367,000. Marks Group Wealth Management Inc grew its holdings in The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares during the period. Principal Financial Group Inc. grew its holdings in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares during the period. Finally, Valley Wealth Managers Inc. boosted its holdings in shares of The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after acquiring an additional 1,548 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Up 0.9 %

NYSE CI opened at $311.50 on Tuesday. The stock’s 50-day simple moving average is $290.14 and its two-hundred day simple moving average is $318.34. The Cigna Group has a twelve month low of $262.03 and a twelve 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 company has a market capitalization of $86.64 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the company posted $6.79 EPS. Research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.94%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analyst Upgrades and Downgrades

CI has been the subject of a number of analyst reports. Sanford C. Bernstein lowered 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. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Wells Fargo & Company cut their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Barclays cut their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $372.31.

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.