IFM Investors Pty Ltd Raises Holdings in Cigna Group (NYSE:CI)

by · The Markets Daily

IFM Investors Pty Ltd grew its stake in Cigna Group (NYSE:CI – Free Report) by 7.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 58,568 shares of the health services provider’s stock after buying an additional 4,283 shares during the quarter. IFM Investors Pty Ltd’s holdings in Cigna Group were worth $20,290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Cigna Group during the 4th quarter worth approximately $867,785,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Cigna Group during the 4th quarter worth $724,517,000. GAMMA Investing LLC lifted its position in shares of Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after purchasing an additional 1,771,613 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Cigna Group during the fourth quarter worth $313,911,000. Finally, GQG Partners LLC increased its holdings in Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after buying an additional 737,099 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Down 0.3%

CI opened at $319.48 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a market capitalization of $85.34 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.95 and a beta of 0.44. The business has a 50 day simple moving average of $320.06 and a 200-day simple moving average of $309.00.

Cigna Group (NYSE:CI – Get Free Report) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same period in the previous year, the firm earned $6.47 EPS. The business’s revenue was up 14.4% on a year-over-year basis. On average, equities analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Tuesday, June 3rd. Cigna Group’s dividend payout ratio is currently 33.44%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CI. Piper Sandler lifted their price target on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Guggenheim restated a “buy” rating and set a $388.00 target price on shares of Cigna Group in a research note on Friday, May 23rd. Barclays reiterated an “overweight” rating and issued a $385.00 price target (up from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Mizuho raised their price objective on Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Finally, Cowen restated a “buy” rating on shares of Cigna Group in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $380.39.

Read Our Latest Stock Analysis on CI

Cigna Group Company Profile

(Free Report)

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.

Further Reading

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