1,933 Shares in Cigna Group (NYSE:CI) Acquired by Keynote Financial Services LLC

Key Points

• Keynote Financial Services LLC acquired 1,933 shares of Cigna Group for approximately $636,000, reflecting growing interest from institutional investors.
• Cigna Group reported earnings of $7.20 per share, surpassing analyst expectations and demonstrating a revenue growth of 11.0% year-over-year.
• The company announced a quarterly dividend of $1.51 per share, representing a yield of 2.2%, with an upcoming ex-dividend date on September 4th.

Keynote Financial Services LLC bought a new position in shares of Cigna Group (NYSE:CI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,933 shares of the health services provider's stock, valued at approximately $636,000.

A number of other hedge funds also recently added to or reduced their stakes in CI. Brighton Jones LLC lifted its holdings in Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after buying an additional 318 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Cigna Group by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider's stock worth $4,658,000 after buying an additional 1,689 shares in the last quarter. Bank of Nova Scotia lifted its holdings in Cigna Group by 1.8% during the 4th quarter. Bank of Nova Scotia now owns 126,696 shares of the health services provider's stock worth $34,986,000 after buying an additional 2,296 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Cigna Group by 22.6% in the 4th quarter. Advisory Services Network LLC now owns 4,420 shares of the health services provider's stock valued at $1,220,000 after purchasing an additional 816 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of Cigna Group by 229.5% in the 4th quarter. APG Asset Management N.V. now owns 218,018 shares of the health services provider's stock valued at $58,140,000 after purchasing an additional 151,854 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Stock Performance

NYSE:CI opened at $270.05 on Thursday. The firm has a 50 day simple moving average of $306.22 and a 200-day simple moving average of $311.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $72.08 billion, a PE ratio of 14.74, a P/E/G ratio of 0.81 and a beta of 0.47. 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 released its earnings results 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. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same period in the previous year, the firm earned $6.72 earnings per share. Cigna Group's revenue was up 11.0% compared to the same quarter last year. On average, equities analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, September 4th. Cigna Group's payout ratio is currently 32.97%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CI. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Piper Sandler lifted their price target on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen lowered shares of Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Guggenheim reiterated a "buy" rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday. Finally, TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $377.72.

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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