Raiffeisen Bank International AG Has $5.15 Million Stock Position in Cigna Group (NYSE:CI)

Raiffeisen Bank International AG lifted its stake in shares of Cigna Group (NYSE:CI - Free Report) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,839 shares of the health services provider's stock after purchasing an additional 1,715 shares during the quarter. Raiffeisen Bank International AG's holdings in Cigna Group were worth $5,148,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Cigna Group by 0.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock valued at $3,834,493,000 after buying an additional 98,715 shares during the last quarter. Sanders Capital LLC lifted its position in Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after acquiring an additional 154,420 shares in the last quarter. Northern Trust Corp boosted its stake in Cigna Group by 11.7% during the 4th quarter. Northern Trust Corp now owns 3,140,201 shares of the health services provider's stock valued at $867,135,000 after purchasing an additional 328,320 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Cigna Group during the 4th quarter worth approximately $724,517,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cigna Group by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,592 shares of the health services provider's stock worth $689,133,000 after purchasing an additional 326,633 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CI. TD Cowen raised Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday. Guggenheim reiterated a "buy" rating and issued a $388.00 target price on shares of Cigna Group in a report on Friday, May 23rd. Mizuho raised their price target on shares of Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, Morgan Stanley upped their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $378.67.

Cigna Group Stock Performance

NYSE:CI opened at $262.26 on Monday. The company has a market capitalization of $70.01 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.79 and a beta of 0.47. The business has a fifty day simple moving average of $308.90 and a two-hundred day simple moving average of $312.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 1 year low of $256.89 and a 1 year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter in the prior year, the company earned $6.72 EPS. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.3%. Cigna Group's payout ratio is 32.97%.

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.

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