Crossmark Global Holdings Inc. Boosts Stake in The Cigna Group (NYSE:CI)

Crossmark Global Holdings Inc. increased its stake in shares of The Cigna Group (NYSE:CI) by 0.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,284 shares of the health services provider’s stock after buying an additional 44 shares during the quarter. The Cigna Group comprises approximately 0.6% of Crossmark Global Holdings Inc.’s investment portfolio, making the stock its 26th biggest holding. Crossmark Global Holdings Inc.’s holdings in The Cigna Group were worth $32,110,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CI. AQR Capital Management LLC boosted its holdings in shares of The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares during the last quarter. Ameriprise Financial Inc. grew its position in The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after purchasing an additional 405,694 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of The Cigna Group by 145.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock valued at $225,899,000 after buying an additional 404,791 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after buying an additional 399,230 shares during the period. Finally, FMR LLC boosted its stake in shares of The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

The Cigna Group stock opened at $284.16 on Tuesday. The company has a fifty day simple moving average of $301.37 and a 200-day simple moving average of $326.80. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.75 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 Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the company posted $6.77 EPS. On average, equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Truist Financial cut 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. Piper Sandler restated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. One equities research 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.