The Cigna Group (NYSE:CI) Shares Bought by Associated Banc Corp

by · The Markets Daily

Associated Banc Corp raised its position in The Cigna Group (NYSE:CI – Free Report) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,864 shares of the health services provider’s stock after buying an additional 160 shares during the period. The Cigna Group makes up about 1.3% of Associated Banc Corp’s holdings, making the stock its 20th biggest holding. Associated Banc Corp’s holdings in The Cigna Group were worth $42,565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in shares of The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after purchasing an additional 130,048 shares during the last quarter. Parnassus Investments LLC increased its holdings in shares of The Cigna Group by 2.1% in the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after acquiring an additional 59,011 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in The Cigna Group by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after purchasing an additional 150,765 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 during the period. Finally, AQR Capital Management LLC boosted its position in The Cigna Group by 63.4% during the 2nd 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 during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CI shares. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Barclays raised their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $394.64.

Check Out Our Latest Research Report on The Cigna Group

The Cigna Group Trading Up 1.2 %

CI stock traded up $3.92 during midday trading on Monday, reaching $332.37. The company’s stock had a trading volume of 2,595 shares, compared to its average volume of 1,535,751. The business’s 50-day simple moving average is $335.43 and its 200-day simple moving average is $338.76. The stock has a market cap of $92.45 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. The Cigna Group has a 52 week low of $253.95 and a 52 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 Cigna Group (NYSE:CI – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the business posted $6.77 EPS. As a group, sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

The Cigna Group Company Profile

(Free Report)

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.

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