Quantbot Technologies LP Takes $4.85 Million Position in The Cigna Group (NYSE:CI)

Quantbot Technologies LP bought a new position in shares of The Cigna Group (NYSE:CI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,991 shares of the health services provider’s stock, valued at approximately $4,847,000.

Other hedge funds have also recently bought and sold shares of the company. Prospector Partners LLC increased its position in shares of The Cigna Group by 0.4% during the third quarter. Prospector Partners LLC now owns 41,018 shares of the health services provider’s stock worth $14,210,000 after acquiring an additional 160 shares in the last quarter. FMR LLC lifted its holdings in shares of The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares in the last quarter. Dai ichi Life Insurance Company Ltd grew its holdings in shares of The Cigna Group by 35.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 65,940 shares of the health services provider’s stock worth $22,844,000 after buying an additional 17,326 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in The Cigna Group by 6.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 729,252 shares of the health services provider’s stock valued at $252,642,000 after buying an additional 45,891 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new stake in The Cigna Group in the 3rd quarter valued at approximately $4,325,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.6 %

NYSE CI opened at $335.07 on Wednesday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The business has a fifty day moving average price of $334.32 and a two-hundred day moving average price of $338.53. 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 stock has a market capitalization of $93.20 billion, a PE ratio of 31.61, a PEG ratio of 0.99 and a beta of 0.51.

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 for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. During the same period last year, the firm posted $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. Equities analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The Cigna Group’s payout ratio is presently 52.83%.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler reissued an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Barclays increased their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One equities research 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. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $394.64.

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.