Howard Capital Management Inc. Buys 89 Shares of The Cigna Group (NYSE:CI)

Howard Capital Management Inc. raised its stake in shares of The Cigna Group (NYSE:CI) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,007 shares of the health services provider’s stock after buying an additional 89 shares during the period. Howard Capital Management Inc.’s holdings in The Cigna Group were worth $554,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CI. Swedbank AB grew its position in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after buying an additional 314,123 shares in the last quarter. FMR LLC grew its position in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after purchasing an additional 202,161 shares in the last quarter. World Investment Advisors LLC acquired a new stake in The Cigna Group during the third quarter valued at approximately $69,972,000. Finally, Two Sigma Advisers LP boosted its holdings in The Cigna Group by 995.9% during the third quarter. Two Sigma Advisers LP now owns 215,900 shares of the health services provider’s stock valued at $74,796,000 after purchasing an additional 196,200 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE CI opened at $300.80 on Tuesday. The company has a fifty day moving average price of $286.90 and a 200 day moving average price of $319.23. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market cap of $83.67 billion, a PE ratio of 24.58, a PEG ratio of 0.98 and a beta of 0.54.

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

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CI shares. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Stephens cut their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Cantor Fitzgerald cut their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target of $372.31.

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.