Nicolet Advisory Services LLC Grows Stock Holdings in Cigna Group (NYSE:CI)

Nicolet Advisory Services LLC raised its holdings in shares of Cigna Group (NYSE:CI) by 25.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,180 shares of the health services provider’s stock after purchasing an additional 242 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Cigna Group were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. purchased a new stake in Cigna Group during the 4th quarter valued at $724,517,000. GAMMA Investing LLC increased its position in Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock valued at $583,852,000 after acquiring an additional 1,771,613 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider’s stock valued at $225,385,000 after acquiring an additional 600,300 shares during the period. Voloridge Investment Management LLC lifted its holdings in shares of Cigna Group by 400.9% in the 4th quarter. Voloridge Investment Management LLC now owns 643,253 shares of the health services provider’s stock worth $177,628,000 after acquiring an additional 514,841 shares during the last quarter. Finally, TAM Capital Management Inc. purchased a new position in shares of Cigna Group during the 4th quarter worth about $128,590,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Morgan Stanley boosted their price objective on Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Guggenheim reaffirmed a “buy” rating and issued a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Finally, Mizuho lifted their target price on Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.67.

Cigna Group Stock Down 1.9%

NYSE:CI opened at $262.26 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.72. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83. The company has a 50-day moving average of $308.90 and a 200 day moving average of $311.92. The firm has a market cap of $70.06 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.81 and a beta of 0.47.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the previous year, the business posted $6.72 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.3%. Cigna Group’s dividend payout ratio (DPR) is currently 33.44%.

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.