Avanza Fonder AB Makes New $6.47 Million Investment in The Cigna Group (NYSE:CI)

Avanza Fonder AB purchased a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, Holdings Channel reports. The firm purchased 23,411 shares of the health services provider’s stock, valued at approximately $6,465,000.

Several other institutional investors have also recently made changes to their positions in CI. ORG Wealth Partners LLC acquired a new position in The Cigna Group during the fourth quarter worth approximately $34,000. Ulland Investment Advisors LLC lifted its holdings in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the 3rd quarter valued at $45,000. Finally, Intact Investment Management Inc. bought a new position in The Cigna Group during the 3rd quarter worth $69,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent research reports. Barclays raised their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $395.93.

The Cigna Group Stock Performance

NYSE:CI opened at $280.25 on Friday. 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 has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a fifty day moving average of $302.88 and a 200-day moving average of $327.39. The firm has a market capitalization of $77.95 billion, a P/E ratio of 26.56, a P/E/G ratio of 0.75 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.00%. The Cigna Group’s dividend payout ratio is presently 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.