1,467 Shares in Cigna Group (NYSE:CI) Acquired by Pathway Financial Advisers LLC

Key Points

• Pathway Financial Advisers LLC acquired 1,467 shares of Cigna Group, valued at approximately $483,000, in the first quarter of this year.
• Cigna Group reported earnings of $7.20 per share for the last quarter, surpassing analyst expectations of $7.15, with quarterly revenue reaching $67.13 billion.
• The company declared a quarterly dividend of $1.51 per share, to be paid on September 18th, which results in an annualized dividend yield of 2.3%.

Pathway Financial Advisers LLC acquired a new position in shares of Cigna Group (NYSE:CI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,467 shares of the health services provider's stock, valued at approximately $483,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Putney Financial Group LLC bought a new position in shares of Cigna Group in the 4th quarter valued at $36,000. Evermay Wealth Management LLC grew its position in Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after acquiring an additional 41 shares during the last quarter. Transce3nd LLC bought a new stake in Cigna Group during the 4th quarter worth $38,000. Richardson Financial Services Inc. bought a new stake in Cigna Group during the 1st quarter worth $38,000. Finally, Wayfinding Financial LLC bought a new stake in Cigna Group during the 1st quarter worth $40,000. Institutional investors own 86.99% of the company's stock.

Cigna Group Trading Down 1.9%

Shares of NYSE:CI traded down $5.12 during midday trading on Friday, reaching $262.26. The company's stock had a trading volume of 3,428,214 shares, compared to its average volume of 1,808,167. The firm has a market capitalization of $70.01 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.79 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a 50 day moving average price of $308.90 and a two-hundred day moving average price of $312.33. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $370.83.

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

Cigna Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CI shares. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Morgan Stanley boosted their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Robert W. Baird reduced their price objective on Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Mizuho lifted their target price on Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $378.67.

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.