The Cigna Group (NYSE:CI) Shares Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its stake in The Cigna Group (NYSE:CI) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,327 shares of the health services provider’s stock after purchasing an additional 1,446 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in The Cigna Group were worth $3,727,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of The Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after acquiring an additional 318 shares during the period. Asset Management One Co. Ltd. increased its position in shares of The Cigna Group by 2.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 125,898 shares of the health services provider’s stock worth $35,080,000 after purchasing an additional 3,565 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of The Cigna Group by 5.7% in the 4th quarter. Vontobel Holding Ltd. now owns 24,778 shares of the health services provider’s stock worth $6,842,000 after purchasing an additional 1,334 shares during the last quarter. Northern Financial Advisors Inc bought a new stake in shares of The Cigna Group in the 4th quarter worth about $208,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of analyst reports. Wall Street Zen raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $371.00 price objective on shares of The Cigna Group in a research report on Tuesday, June 3rd. Piper Sandler boosted their price objective on shares of The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Barclays reaffirmed an “overweight” rating and set a $385.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, June 2nd. Finally, Morgan Stanley boosted their price objective on shares of The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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 firm has a fifty day simple moving average of $322.31 and a 200-day simple moving average of $308.57. 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 Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock has a market capitalization of $84.69 billion, a price-to-earnings ratio of 25.90, a PEG 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 analysts’ consensus estimates 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 period in the previous year, the company earned $6.47 earnings per share. The Cigna Group’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

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

About The Cigna Group

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.