E. Ohman J or Asset Management AB Boosts Holdings in The Cigna Group (NYSE:CI)

E. Ohman J or Asset Management AB increased its stake in shares of The Cigna Group (NYSE:CI) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 12,355 shares of the health services provider’s stock after purchasing an additional 1,100 shares during the period. E. Ohman J or Asset Management AB’s holdings in The Cigna Group were worth $3,412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CI. ORG Wealth Partners LLC acquired a new position in The Cigna Group during the fourth quarter worth about $34,000. Ulland Investment Advisors LLC lifted its stake in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group in the third quarter valued at approximately $45,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.6 %

Shares of CI opened at $292.56 on Tuesday. The company’s 50-day simple moving average is $294.40 and its 200-day simple moving average is $324.18. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. 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 $81.38 billion, a PE ratio of 23.90, a P/E/G ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned $6.79 EPS. Analysts forecast that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.06%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is presently 45.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CI shares. Morgan Stanley lowered their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday. Truist Financial reduced their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group dropped their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $378.00.

The Cigna Group Company 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.