Northwest & Ethical Investments L.P. Purchases 2,575 Shares of The Cigna Group (NYSE:CI)

Northwest & Ethical Investments L.P. boosted its position in The Cigna Group (NYSE:CI) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,564 shares of the health services provider’s stock after acquiring an additional 2,575 shares during the period. Northwest & Ethical Investments L.P.’s holdings in The Cigna Group were worth $22,714,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in The Cigna Group in the second quarter worth $33,000. Ulland Investment Advisors LLC boosted its stake in shares of 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 in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group during the 3rd quarter valued at about $37,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the third quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group in the second quarter worth about $66,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock traded up $1.50 during trading hours on Thursday, reaching $336.50. The company had a trading volume of 1,770,192 shares, compared to its average volume of 1,548,707. The firm has a market cap of $93.60 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The business has a fifty day moving average price of $333.94 and a 200-day moving average price of $338.52. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during 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 company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned $6.77 EPS. Sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.66%. The Cigna Group’s payout ratio is 52.83%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CI. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Barclays increased their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $394.64.

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.