LGT Fund Management Co Ltd. Purchases 3,150 Shares of The Cigna Group (NYSE:CI)

LGT Fund Management Co Ltd. increased its position in shares of The Cigna Group (NYSE:CI) by 67.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,850 shares of the health services provider’s stock after acquiring an additional 3,150 shares during the period. LGT Fund Management Co Ltd.’s holdings in The Cigna Group were worth $2,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Swedbank AB grew its position in shares of The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares during the last quarter. FMR LLC grew its position in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after buying an additional 279,880 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of The Cigna Group by 34,280.8% in the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock valued at $65,888,000 after buying an additional 237,909 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after buying an additional 202,161 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at about $69,972,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Truist Financial dropped their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, UBS Group dropped their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $311.50 on Tuesday. The company has a market cap of $86.64 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The business has a 50 day moving average price of $290.14 and a 200-day moving average price of $318.34. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the company earned $6.79 earnings per share. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.94%. The Cigna Group’s dividend payout ratio is currently 49.35%.

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.