The Cigna Group (NYSE:CI) Stake Boosted by Factorial Partners LLC

Factorial Partners LLC lifted its stake in The Cigna Group (NYSE:CI) by 7.8% during the fourth quarter, HoldingsChannel reports. The fund owned 12,450 shares of the health services provider’s stock after purchasing an additional 900 shares during the quarter. The Cigna Group comprises approximately 2.0% of Factorial Partners LLC’s holdings, making the stock its 20th biggest position. Factorial Partners LLC’s holdings in The Cigna Group were worth $3,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CI. AMF Tjanstepension AB grew its position in The Cigna Group by 18.6% in the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after acquiring an additional 11,550 shares in the last quarter. Swedbank AB lifted its stake in shares of The Cigna Group by 26.6% in the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after purchasing an additional 119,681 shares during the last quarter. Mutual Advisors LLC boosted its holdings in The Cigna Group by 21.1% in the third quarter. Mutual Advisors LLC now owns 4,729 shares of the health services provider’s stock worth $1,505,000 after purchasing an additional 825 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in The Cigna Group during the third quarter worth $214,000. Finally, Catalyst Financial Partners LLC raised its holdings in The Cigna Group by 9.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,010 shares of the health services provider’s stock valued at $350,000 after buying an additional 83 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on CI shares. Wells Fargo & Company lowered their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Barclays reduced their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Morgan Stanley lowered their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Trading Up 1.9 %

Shares of CI opened at $308.66 on Friday. The stock’s 50-day moving average price is $289.54 and its 200 day moving average price is $318.73. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market capitalization of $85.85 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 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 period last year, the business earned $6.79 earnings per share. As a group, research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. 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%.

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.