Horizon Investments LLC Raises Stock Position in Cigna Group (NYSE:CI)

Horizon Investments LLC raised its stake in shares of Cigna Group (NYSE:CI) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,012 shares of the health services provider’s stock after purchasing an additional 162 shares during the quarter. Horizon Investments LLC’s holdings in Cigna Group were worth $1,649,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Evermay Wealth Management LLC boosted its holdings in shares of Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider’s stock valued at $37,000 after buying an additional 41 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Cigna Group during the 1st quarter valued at $38,000. Wayfinding Financial LLC bought a new stake in shares of Cigna Group during the 1st quarter valued at $40,000. Putney Financial Group LLC bought a new stake in shares of Cigna Group during the 4th quarter valued at $36,000. Finally, Transce3nd LLC bought a new stake in shares of Cigna Group during the 4th quarter valued at $38,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a “buy” rating in a report on Tuesday, August 5th. Wells Fargo & Company dropped their price target on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Thursday. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research note on Thursday. Wall Street Zen cut shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley upped their price target on shares of Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.33.

Cigna Group Price Performance

CI opened at $297.02 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $79.28 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.87 and a beta of 0.47. The company’s 50-day simple moving average is $302.03 and its two-hundred day simple moving average is $311.13. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the prior year, the firm earned $6.72 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio is presently 32.97%.

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.