Dynamic Technology Lab Private Ltd Has $1.85 Million Position in The Cigna Group (NYSE:CI)

Dynamic Technology Lab Private Ltd grew its position in The Cigna Group (NYSE:CI) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,338 shares of the health services provider’s stock after purchasing an additional 285 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in The Cigna Group were worth $1,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Checchi Capital Advisers LLC increased its position in shares of The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after buying an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after acquiring an additional 31 shares during the period. IFG Advisors LLC increased its holdings in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after acquiring an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. raised its position in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after purchasing an additional 31 shares during the period. Finally, Capital Investment Advisors LLC lifted its holdings in shares of The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after purchasing an additional 32 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

CI has been the subject of a number of research reports. Royal Bank of Canada lowered their target price 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. Barclays increased 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 report on Tuesday, November 5th. Jefferies Financial Group boosted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report 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 stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Trading Up 1.3 %

Shares of The Cigna Group stock opened at $332.73 on Tuesday. The Cigna Group has a 12-month low of $253.95 and a 12-month 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 business’s 50 day moving average is $334.74 and its 200-day moving average is $338.63. The stock has a market cap of $92.55 billion, a P/E ratio of 31.39, a P/E/G ratio of 0.99 and a beta of 0.51.

The Cigna Group (NYSE:CI) 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 firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company posted $6.77 earnings per share. Equities research analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

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

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.