Wedge Capital Management L L P NC Grows Stock Holdings in The Cigna Group (NYSE:CI)

Wedge Capital Management L L P NC grew its stake in shares of The Cigna Group (NYSE:CI) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,066 shares of the health services provider’s stock after acquiring an additional 11,636 shares during the period. Wedge Capital Management L L P NC’s holdings in The Cigna Group were worth $34,536,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CI. Marks Group Wealth Management Inc grew its position in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Principal Financial Group Inc. grew its position in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after buying an additional 11,228 shares in the last quarter. Trinity Street Asset Management LLP increased its stake in The Cigna Group by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after acquiring an additional 5,397 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its holdings in shares of The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after acquiring an additional 3,466 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of The Cigna Group by 6.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 105,479 shares of the health services provider’s stock valued at $36,542,000 after acquiring an additional 6,585 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Up 1.1 %

NYSE CI opened at $284.16 on Friday. The stock has a market cap of $79.04 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a 50 day simple moving average of $302.08 and a two-hundred day simple moving average of $327.07. 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 (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the company earned $6.77 EPS. The business’s revenue was up 29.8% compared to the same quarter last year. On average, analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a $1.40 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CI. Royal Bank of Canada lowered their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Truist Financial lowered their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $395.93.

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.