Meeder Asset Management Inc. Purchases 9,198 Shares of The Cigna Group (NYSE:CI)

Meeder Asset Management Inc. raised its position in The Cigna Group (NYSE:CI) by 353.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,800 shares of the health services provider’s stock after buying an additional 9,198 shares during the quarter. Meeder Asset Management Inc.’s holdings in The Cigna Group were worth $4,088,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. OneAscent Financial Services LLC bought a new stake in The Cigna Group in the 3rd quarter valued at about $454,000. OneAscent Wealth Management LLC bought a new stake in shares of The Cigna Group in the third quarter valued at approximately $358,000. AMG National Trust Bank lifted its stake in shares of The Cigna Group by 5.7% during the 3rd quarter. AMG National Trust Bank now owns 4,072 shares of the health services provider’s stock valued at $1,411,000 after buying an additional 218 shares in the last quarter. Aljian Capital Management LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at approximately $324,000. Finally, Swiss National Bank boosted its holdings in The Cigna Group by 0.4% in the 3rd quarter. Swiss National Bank now owns 843,101 shares of the health services provider’s stock worth $292,084,000 after buying an additional 3,100 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CI. 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. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Royal Bank of Canada lowered their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Barclays boosted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. 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 MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Performance

NYSE CI opened at $322.40 on Tuesday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a fifty day moving average of $338.17 and a 200-day moving average of $339.27. The company has a market capitalization of $89.68 billion, a P/E ratio of 30.42, a P/E/G ratio of 0.97 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

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

The Cigna Group Announces Dividend

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 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

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.