Pacer Advisors Inc. Acquires 268 Shares of The Cigna Group (NYSE:CI)

Pacer Advisors Inc. grew its stake in The Cigna Group (NYSE:CI) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,532 shares of the health services provider’s stock after buying an additional 268 shares during the quarter. Pacer Advisors Inc.’s holdings in The Cigna Group were worth $7,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after purchasing an additional 130,048 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in The Cigna Group by 28.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 1,074 shares of the health services provider’s stock valued at $372,000 after buying an additional 237 shares during the last quarter. Tradewinds LLC. raised its holdings in The Cigna Group by 5.2% in the 3rd quarter. Tradewinds LLC. now owns 14,846 shares of the health services provider’s stock valued at $5,143,000 after acquiring an additional 731 shares during the period. Intech Investment Management LLC lifted its position in The Cigna Group by 11.1% during the third quarter. Intech Investment Management LLC now owns 73,054 shares of the health services provider’s stock worth $25,309,000 after acquiring an additional 7,304 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in shares of The Cigna Group by 0.3% during the third quarter. Pzena Investment Management LLC now owns 541,778 shares of the health services provider’s stock worth $187,694,000 after acquiring an additional 1,822 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

CI stock opened at $328.45 on Friday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $91.36 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 0.99 and a beta of 0.51. The company has a 50 day simple moving average of $335.43 and a 200 day simple moving average of $338.82.

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, beating 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 for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the business posted $6.77 EPS. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. Research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CI shares. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Piper Sandler restated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Stephens restated 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, JPMorgan Chase & Co. increased their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price 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.