Qsemble Capital Management LP Takes Position in The Cigna Group (NYSE:CI)

Qsemble Capital Management LP bought a new position in The Cigna Group (NYSE:CI) in the 3rd quarter, Holdings Channel reports. The fund bought 12,485 shares of the health services provider’s stock, valued at approximately $4,325,000.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in 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 worth $510,467,000 after buying an additional 600,215 shares during the period. Swedbank AB purchased a new stake in shares of The Cigna Group during the first quarter worth about $161,300,000. Ameriprise Financial Inc. raised its stake 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 valued at $706,822,000 after purchasing an additional 405,694 shares during the period. The Manufacturers Life Insurance Company lifted its holdings 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 purchasing an additional 404,791 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of The Cigna Group by 49,287.7% during the third 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 last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.7 %

Shares of NYSE CI traded up $5.71 during trading hours on Monday, reaching $334.16. The stock had a trading volume of 92,509 shares, compared to its average volume of 1,536,146. The business’s fifty day moving average price is $335.43 and its two-hundred day moving average price is $338.76. The firm has a market cap of $92.95 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 0.99 and a beta of 0.51. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned $6.77 earnings per share. Analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised 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 note on Tuesday, September 17th. Royal Bank of Canada dropped their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Piper Sandler reiterated 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. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $394.64.

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.