Associated Banc Corp Has $42.57 Million Stock Holdings in The Cigna Group (NYSE:CI)

Associated Banc Corp grew its holdings in shares of The Cigna Group (NYSE:CI) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,864 shares of the health services provider’s stock after purchasing an additional 160 shares during the period. The Cigna Group comprises 1.3% of Associated Banc Corp’s holdings, making the stock its 20th largest holding. Associated Banc Corp’s holdings in The Cigna Group were worth $42,565,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after acquiring an additional 625 shares during the last quarter. Marks Group Wealth Management Inc raised its stake in shares of 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 acquiring an additional 23,376 shares during the last quarter. Hancock Whitney Corp increased its holdings in The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares during the period. ORG Partners LLC bought a new stake in shares of The Cigna Group in the 2nd quarter valued at about $489,000. Finally, Tidal Investments LLC lifted its stake in shares of The Cigna Group by 36.0% in the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after acquiring an additional 4,043 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Up 1.2 %

Shares of CI traded up $3.92 on Monday, reaching $332.37. The stock had a trading volume of 2,595 shares, compared to its average volume of 1,535,751. The company has a 50-day simple moving average of $335.43 and a 200-day simple moving average of $338.76. The firm has a market capitalization of $92.45 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. 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 has a 12-month low of $253.95 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS 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 the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company’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 posted $6.77 earnings per share. Sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CI. Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Jefferies Financial Group raised their price objective on 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 equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.