The Cigna Group (NYSE:CI) Shares Bought by Grove Bank & Trust

Grove Bank & Trust raised its position in shares of The Cigna Group (NYSE:CI) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,803 shares of the health services provider’s stock after acquiring an additional 118 shares during the quarter. Grove Bank & Trust’s holdings in The Cigna Group were worth $498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its stake in The Cigna Group by 63.4% during the second 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 last quarter. Ameriprise Financial Inc. boosted its position in shares of 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 acquiring an additional 405,694 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of The Cigna Group by 145.3% in the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock valued at $225,899,000 after purchasing an additional 404,791 shares during the period. International Assets Investment Management LLC increased its position in 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 worth $138,590,000 after purchasing an additional 399,230 shares during the last quarter. Finally, FMR LLC raised its stake in 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 during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their target price on shares of 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $395.93.

The Cigna Group Stock Up 1.1 %

CI stock opened at $284.16 on Monday. The company’s 50 day moving average price is $301.37 and its 200 day moving average price is $326.79. The firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 1.31% and a return on equity of 18.42%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. On average, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a $1.40 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The Cigna Group’s payout ratio is currently 52.83%.

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.