Investment Management Corp of Ontario Acquires 3,100 Shares of The Cigna Group (NYSE:CI)

Investment Management Corp of Ontario raised its holdings in The Cigna Group (NYSE:CI) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,760 shares of the health services provider’s stock after buying an additional 3,100 shares during the quarter. Investment Management Corp of Ontario’s holdings in The Cigna Group were worth $13,428,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CI. AQR Capital Management LLC boosted its position in shares of 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 valued at $510,467,000 after purchasing an additional 600,215 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of 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 valued at $706,822,000 after purchasing an additional 405,694 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of The Cigna Group by 145.3% during 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 in the last quarter. International Assets Investment Management LLC boosted its position in shares of 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 valued at $138,590,000 after purchasing an additional 399,230 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position 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 currently owned by institutional investors.

The Cigna Group Stock Performance

NYSE CI opened at $337.14 on Tuesday. The firm has a market cap of $93.77 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $333.16 and a 200-day moving average price of $338.34. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 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 prior year, the company posted $6.77 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, equities research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is presently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Royal Bank of Canada lowered their price objective on 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. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $394.64.

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.