Cypress Capital Group Has $1.13 Million Holdings in The Cigna Group (NYSE:CI)

Cypress Capital Group decreased its position in The Cigna Group (NYSE:CI) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,271 shares of the health services provider’s stock after selling 48 shares during the period. Cypress Capital Group’s holdings in The Cigna Group were worth $1,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new stake in shares of The Cigna Group in the first quarter worth approximately $454,000. Lazard Asset Management LLC boosted its stake in shares of The Cigna Group by 54.3% during the 1st quarter. Lazard Asset Management LLC now owns 185,295 shares of the health services provider’s stock valued at $67,296,000 after buying an additional 65,193 shares during the period. BOKF NA grew its holdings in shares of The Cigna Group by 14.3% during the 1st quarter. BOKF NA now owns 5,381 shares of the health services provider’s stock valued at $1,959,000 after acquiring an additional 673 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares during the last quarter. Finally, Manhattan West Asset Management LLC raised its holdings in shares of The Cigna Group by 7.9% during the first quarter. Manhattan West Asset Management LLC now owns 9,778 shares of the health services provider’s stock worth $3,551,000 after acquiring an additional 712 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Up 2.3 %

Shares of CI stock opened at $330.71 on Friday. The Cigna Group has a one year low of $253.95 and a one 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 fifty day moving average price of $336.15 and a 200 day moving average price of $338.97. The stock has a market cap of $91.99 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the firm earned $6.77 EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. Analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. 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.