Erste Asset Management GmbH Makes New $17.63 Million Investment in The Cigna Group (NYSE:CI)

Erste Asset Management GmbH acquired a new stake in The Cigna Group (NYSE:CI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,724 shares of the health services provider’s stock, valued at approximately $17,630,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. TruNorth Capital Management LLC acquired a new position in The Cigna Group in the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC lifted its holdings in 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 during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the third quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in The Cigna Group during the 2nd quarter worth about $66,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.4 %

CI opened at $337.80 on Monday. The firm’s fifty day moving average is $333.16 and its two-hundred day moving average is $338.34. The firm has a market cap of $93.96 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51. The Cigna Group has a twelve month low of $253.95 and a twelve month 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 issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 EPS. Equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CI shares. Royal Bank of Canada lowered 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 report on Friday, November 1st. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $394.64.

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.