Howard Capital Management Inc. Has $554,000 Stock Position in The Cigna Group (NYSE:CI)

Howard Capital Management Inc. increased its holdings in shares of The Cigna Group (NYSE:CI) by 4.6% during the fourth quarter, Holdings Channel reports. The fund owned 2,007 shares of the health services provider’s stock after acquiring an additional 89 shares during the quarter. Howard Capital Management Inc.’s holdings in The Cigna Group were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of The Cigna Group by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after purchasing an additional 130,048 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after purchasing an additional 22,408 shares in the last quarter. Parnassus Investments LLC increased its holdings in The Cigna Group by 2.1% in the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after buying an additional 59,011 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in The Cigna Group by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after purchasing an additional 44,810 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI stock opened at $300.80 on Tuesday. The company has a market cap of $83.67 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 firm has a 50 day moving average of $286.90 and a 200-day moving average of $319.23.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the company posted $6.79 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 2.01%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CI shares. Oppenheimer decreased their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Barclays lowered their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Truist Financial reduced their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $372.31.

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.