Alpine Bank Wealth Management acquired a new position in shares of Cigna Group (NYSE:CI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,994 shares of the health services provider's stock, valued at approximately $656,000.
Several other institutional investors and hedge funds have also modified their holdings of CI. TCTC Holdings LLC bought a new stake in shares of Cigna Group during the 4th quarter worth $25,000. Putney Financial Group LLC bought a new position in Cigna Group in the fourth quarter valued at about $36,000. Transce3nd LLC bought a new position in Cigna Group in the fourth quarter valued at about $38,000. Ameriflex Group Inc. bought a new position in Cigna Group in the fourth quarter valued at about $44,000. Finally, Heck Capital Advisors LLC bought a new position in Cigna Group in the fourth quarter valued at about $53,000. 86.99% of the stock is currently owned by institutional investors.
Cigna Group Trading Down 1.0%
NYSE CI traded down $3.32 during trading hours on Friday, hitting $326.68. 3,402,333 shares of the company's stock were exchanged, compared to its average volume of 1,723,907. The stock has a 50-day simple moving average of $320.64 and a 200 day simple moving average of $307.81. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market cap of $87.27 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.98 and a beta of 0.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65.
Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter last year, the firm posted $6.47 earnings per share. The firm's revenue was up 14.4% on a year-over-year basis. On average, equities analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.
Cigna Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.85%. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Truist Financial increased their target price on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Guggenheim reiterated a "buy" rating and issued a $388.00 target price on shares of Cigna Group in a research report on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $380.39.
View Our Latest Analysis on Cigna Group
About Cigna Group
(
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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