Te Ahumairangi Investment Management Ltd Has $7 Million Holdings in The Cigna Group (NYSE:CI)

Te Ahumairangi Investment Management Ltd boosted its position in shares of The Cigna Group (NYSE:CI) by 7.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,330 shares of the health services provider’s stock after buying an additional 1,490 shares during the period. The Cigna Group makes up approximately 1.2% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 27th largest position. Te Ahumairangi Investment Management Ltd’s holdings in The Cigna Group were worth $7,003,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares during the last quarter. Ameriprise Financial Inc. raised its stake in The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after acquiring an additional 405,694 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in The Cigna Group by 145.3% in the 2nd 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 last quarter. International Assets Investment Management LLC boosted its holdings in shares of The Cigna Group by 49,287.7% during the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of The Cigna Group by 526.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after purchasing an additional 305,490 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE CI opened at $293.94 on Thursday. The firm has a market capitalization of $81.76 billion, a P/E ratio of 27.73, a P/E/G ratio of 0.96 and a beta of 0.50. The firm’s 50-day moving average price is $328.80 and its 200-day moving average price is $337.46. 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 Cigna Group has a 1-year low of $288.88 and a 1-year 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 for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the business earned $6.77 EPS. Equities research analysts anticipate that The Cigna Group will post 28.49 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CI. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $394.64.

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.