Tradewinds LLC. Grows Stock Holdings in The Cigna Group (NYSE:CI)

Tradewinds LLC. lifted its stake in The Cigna Group (NYSE:CI) by 5.2% in the third quarter, Holdings Channel.com reports. The fund owned 14,846 shares of the health services provider’s stock after purchasing an additional 731 shares during the period. The Cigna Group makes up approximately 1.6% of Tradewinds LLC.’s portfolio, making the stock its 22nd biggest position. Tradewinds LLC.’s holdings in The Cigna Group were worth $5,143,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CI. Price T Rowe Associates Inc. MD lifted its stake in The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after purchasing an additional 600,215 shares during the period. Swedbank AB purchased a new stake in shares of The Cigna Group in the first quarter worth $161,300,000. Ameriprise Financial Inc. grew its position in The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after buying an additional 405,694 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in The Cigna Group by 145.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after acquiring an additional 404,791 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CI shares. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler reissued 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. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Barclays upped their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Trading Up 0.3 %

Shares of CI stock opened at $323.36 on Thursday. The business has a 50-day moving average of $336.78 and a 200 day moving average of $339.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The stock has a market capitalization of $89.94 billion, a PE ratio of 30.51, a P/E/G ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. The business’s revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.