Thompson Investment Management Inc. Has $7.70 Million Position in The Cigna Group (NYSE:CI)

Thompson Investment Management Inc. raised its position in The Cigna Group (NYSE:CI) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,414 shares of the health services provider’s stock after purchasing an additional 319 shares during the quarter. Thompson Investment Management Inc.’s holdings in The Cigna Group were worth $7,703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CI. Brighton Jones LLC increased its holdings in The Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after purchasing an additional 318 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth approximately $78,000. Moloney Securities Asset Management LLC increased its stake in shares of The Cigna Group by 30.0% in the 4th quarter. Moloney Securities Asset Management LLC now owns 871 shares of the health services provider’s stock valued at $240,000 after acquiring an additional 201 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of The Cigna Group by 81.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,346 shares of the health services provider’s stock valued at $1,200,000 after acquiring an additional 1,955 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of The Cigna Group during the 4th quarter valued at $112,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.8%

Shares of NYSE:CI opened at $313.83 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a market cap of $83.84 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 0.98 and a beta of 0.44. The business’s 50 day moving average is $322.47 and its 200 day moving average is $308.81. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the prior year, the company posted $6.47 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.92%. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

A number of research firms have commented on CI. Royal Bank of Canada restated an “outperform” rating and issued a $371.00 price target on shares of The Cigna Group in a report on Tuesday, June 3rd. Robert W. Baird cut their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Cowen reaffirmed a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Piper Sandler upped their price target on The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Morgan Stanley raised their price objective on The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $380.39.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

The Cigna Group Company 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.