Czech National Bank Raises Stake in The Cigna Group (NYSE:CI)

Czech National Bank increased its stake in The Cigna Group (NYSE:CI) by 5.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 60,310 shares of the health services provider’s stock after buying an additional 3,363 shares during the quarter. Czech National Bank’s holdings in The Cigna Group were worth $16,654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ulland Investment Advisors LLC raised 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 valued at $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group in the third quarter worth about $37,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth about $34,000. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group in the third quarter valued at approximately $45,000. Finally, Intact Investment Management Inc. purchased a new stake in The Cigna Group in the third quarter valued at approximately $69,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CI shares. 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 report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price 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. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Truist Financial cut 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 report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $395.93.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $281.54 on Tuesday. The business has a fifty day simple moving average of $304.16 and a two-hundred day simple moving average of $328.02. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $78.31 billion, a P/E ratio of 26.56, a P/E/G ratio of 0.88 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the firm earned $6.77 EPS. The Cigna Group’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities analysts forecast that The Cigna Group will post 28.5 earnings per share 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. Investors of record on Wednesday, December 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.99%. The Cigna Group’s payout ratio is 52.83%.

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.