NorthCrest Asset Manangement LLC Has $3.73 Million Holdings in The Cigna Group (NYSE:CI)

NorthCrest Asset Manangement LLC grew its holdings in The Cigna Group (NYSE:CI) by 14.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,327 shares of the health services provider’s stock after buying an additional 1,446 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in The Cigna Group were worth $3,727,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its stake in shares of The Cigna Group by 4.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock valued at $3,191,151,000 after buying an additional 501,320 shares in the last quarter. Sanders Capital LLC grew its holdings in shares of The Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock worth $2,224,296,000 after purchasing an additional 154,420 shares during the last quarter. Geode Capital Management LLC grew its holdings in The Cigna Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after acquiring an additional 101,737 shares during the last quarter. GQG Partners LLC grew its holdings in The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. Finally, Norges Bank bought a new stake in The Cigna Group during the 4th quarter worth about $867,785,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CI shares. Morgan Stanley raised their target price on shares of The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Cowen restated a “buy” rating on shares of The Cigna Group in a report on Monday, May 5th. Mizuho raised their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Truist Financial lifted their price objective on shares of The Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $380.39.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $317.03 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 quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $322.31 and a two-hundred day simple moving average of $308.57. The stock has a market capitalization of $84.69 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. During the same quarter in the previous year, the company earned $6.47 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio is currently 33.44%.

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.