Alberta Investment Management Corp Makes New Investment in The Cigna Group (NYSE:CI)

Alberta Investment Management Corp bought a new position in shares of The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,200 shares of the health services provider’s stock, valued at approximately $608,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CI. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the third quarter worth about $37,000. Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter worth about $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter worth about $34,000. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group during the third quarter worth about $45,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the fourth quarter worth about $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

NYSE:CI opened at $299.92 on Friday. The Cigna Group has a twelve month low of $262.03 and a twelve month 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 company has a 50-day moving average of $286.35 and a 200-day moving average of $319.54. The firm has a market cap of $83.42 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth 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 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the business posted $6.79 EPS. Analysts forecast 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 given a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is 45.75%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Cantor Fitzgerald lowered their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Truist Financial lowered their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price 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.