Smartleaf Asset Management LLC Purchases 170 Shares of The Cigna Group (NYSE:CI)

Smartleaf Asset Management LLC lifted its position in The Cigna Group (NYSE:CI) by 7.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,309 shares of the health services provider’s stock after acquiring an additional 170 shares during the period. Smartleaf Asset Management LLC’s holdings in The Cigna Group were worth $635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CI. Swedbank AB grew its stake in shares of The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares in the last quarter. FMR LLC grew its stake 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 buying an additional 279,880 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock valued at $65,888,000 after buying an additional 237,909 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of The Cigna Group by 68.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after buying an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in shares of The Cigna Group in the third quarter valued at $69,972,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Up 0.9 %

CI stock opened at $311.50 on Tuesday. The company has a market cap of $86.64 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The business has a 50-day simple moving average of $290.14 and a 200 day simple moving average of $318.34. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 (NYSE:CI) last posted its quarterly 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 company posted $6.79 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.94%. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CI shares. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Stephens reduced their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $372.31.

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.