Arizona State Retirement System lifted its position in shares of Cigna Group (NYSE:CI - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,630 shares of the health services provider's stock after buying an additional 996 shares during the quarter. Arizona State Retirement System's holdings in Cigna Group were worth $26,856,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CI. TCTC Holdings LLC acquired a new position in shares of Cigna Group in the 4th quarter worth approximately $25,000. Wayfinding Financial LLC bought a new position in Cigna Group during the first quarter worth $40,000. Putney Financial Group LLC acquired a new stake in Cigna Group during the fourth quarter worth $36,000. Transce3nd LLC acquired a new stake in shares of Cigna Group in the 4th quarter valued at $38,000. Finally, Ameriflex Group Inc. bought a new position in shares of Cigna Group in the fourth quarter valued at about $44,000. 86.99% of the stock is owned by institutional investors and hedge funds.
Cigna Group Price Performance
Shares of CI traded down $0.64 during trading hours on Tuesday, hitting $302.42. 1,139,695 shares of the company were exchanged, compared to its average volume of 1,735,918. The company has a market cap of $80.79 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.90 and a beta of 0.44. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average is $316.42 and its 200 day moving average is $311.00.
Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $6.47 earnings per share. On average, equities analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.
Cigna Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 2.00%. Cigna Group's dividend payout ratio (DPR) is currently 33.44%.
Analyst Ratings Changes
Several brokerages recently issued reports on CI. Truist Financial boosted their price objective on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Piper Sandler upped their price target on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cowen reissued a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Finally, Cantor Fitzgerald increased their price objective on Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Two 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $380.39.
Read Our Latest Analysis on CI
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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