Visionary Horizons LLC bought a new position in The Cigna Group (NYSE:CI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,941 shares of the health services provider's stock, valued at approximately $639,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TCTC Holdings LLC bought a new position in shares of The Cigna Group in the fourth quarter worth about $25,000. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter worth about $32,000. Putney Financial Group LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $36,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the 4th quarter worth $37,000. Finally, Transce3nd LLC acquired a new position in The Cigna Group during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
The Cigna Group Stock Performance
NYSE CI traded up $1.66 during trading on Friday, reaching $317.03. 1,866,266 shares of the company's stock were exchanged, compared to its average volume of 1,712,757. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market capitalization of $84.69 billion, a P/E ratio of 25.90, a PEG ratio of 0.98 and a beta of 0.44. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50 day moving average price of $322.23 and a 200-day moving average price of $308.70.
The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the previous year, the company posted $6.47 earnings per share. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. Sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.
The Cigna Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group's payout ratio is 33.44%.
Wall Street Analyst Weigh In
CI has been the topic of a number of analyst reports. Wall Street Zen raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Barclays reaffirmed an "overweight" rating and issued a $385.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, June 2nd. Piper Sandler increased their price target on shares of The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cantor Fitzgerald upped their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, Truist Financial raised their target price on The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two investment 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 stock. According to MarketBeat, The Cigna Group presently has an average rating of "Buy" and an average price target of $380.39.
Check Out Our Latest Research Report on The Cigna Group
The Cigna Group Profile
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Free Report)
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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