The Cigna Group (NYSE:CI) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lifted its position in shares of The Cigna Group (NYSE:CI) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 800 shares of the health services provider’s stock after purchasing an additional 169 shares during the period. Pinnacle Financial Partners Inc’s holdings in The Cigna Group were worth $222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CI. Swedbank AB increased its position in shares of The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after purchasing an additional 314,123 shares in the last quarter. FMR LLC increased its position in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after buying an additional 202,161 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of The Cigna Group during the third quarter worth about $69,972,000. Finally, Two Sigma Advisers LP grew its holdings in shares of The Cigna Group by 995.9% during the third quarter. Two Sigma Advisers LP now owns 215,900 shares of the health services provider’s stock worth $74,796,000 after buying an additional 196,200 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI stock opened at $299.92 on Monday. The firm has a 50 day moving average of $286.35 and a 200-day moving average of $319.47. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 company has a market cap of $83.42 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its quarterly 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company earned $6.79 EPS. As a group, equities analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase 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 dividend payout ratio (DPR) is presently 49.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CI shares. Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $372.31.

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.