The Cigna Group (NYSE:CI) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc grew its stake in shares of The Cigna Group (NYSE:CI) by 151.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 584 shares of the health services provider’s stock after purchasing an additional 352 shares during the quarter. Versant Capital Management Inc’s holdings in The Cigna Group were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CI. Foundations Investment Advisors LLC lifted its holdings in shares of The Cigna Group by 70.9% during the second quarter. Foundations Investment Advisors LLC now owns 1,381 shares of the health services provider’s stock worth $456,000 after purchasing an additional 573 shares during the period. Foster & Motley Inc. grew its position in shares of The Cigna Group by 18.4% in the second quarter. Foster & Motley Inc. now owns 5,447 shares of the health services provider’s stock valued at $1,801,000 after purchasing an additional 845 shares during the last quarter. Horizon Investment Services LLC raised its holdings in shares of The Cigna Group by 17.3% in the second quarter. Horizon Investment Services LLC now owns 7,406 shares of the health services provider’s stock worth $2,448,000 after acquiring an additional 1,092 shares during the last quarter. Victory Capital Management Inc. raised its stake in The Cigna Group by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 505,006 shares of the health services provider’s stock valued at $166,940,000 after purchasing an additional 43,476 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of The Cigna Group during the second quarter valued at approximately $596,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Up 2.3 %

Shares of NYSE:CI opened at $280.70 on Friday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. 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 company has a market cap of $78.08 billion, a PE ratio of 26.48, a P/E/G ratio of 0.88 and a beta of 0.50. The company’s 50-day moving average price is $308.92 and its 200 day moving average price is $330.94.

The Cigna Group (NYSE:CI) last released 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 company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the business posted $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Sell-side analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analyst Weigh In

CI has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price 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. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. 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. Deutsche Bank Aktiengesellschaft cut their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada reduced their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $394.64.

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.