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

Tidal Investments LLC lifted its stake in shares of The Cigna Group (NYSE:CI) by 11.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,520 shares of the health services provider’s stock after buying an additional 1,576 shares during the period. Tidal Investments LLC’s holdings in The Cigna Group were worth $5,377,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CI. Barclays boosted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Trading Down 0.4 %

NYSE:CI opened at $281.86 on Friday. The Cigna Group has a 12 month low of $279.88 and a 12 month high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average is $326.45 and its 200 day moving average is $336.73. The stock has a market capitalization of $78.40 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Sell-side analysts expect 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. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 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.