34,789 Shares in Cigna Group (NYSE:CI) Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. invested approximately $11.45 million in Cigna Group by purchasing 34,789 shares during the first quarter.
• Cigna Group demonstrated strong quarterly earnings, reporting $7.20 EPS and revenue of $67.13 billion, surpassing consensus estimates.
• The company declared a quarterly dividend of $1.51 per share, with an ex-dividend date on September 4th, representing an annual yield of 2.2%.

ASR Vermogensbeheer N.V. bought a new stake in shares of Cigna Group (NYSE:CI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 34,789 shares of the health services provider's stock, valued at approximately $11,446,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Evermay Wealth Management LLC boosted 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 valued at $37,000 after acquiring an additional 41 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in Cigna Group during the 1st quarter valued at $38,000. Wayfinding Financial LLC acquired a new stake in shares of Cigna Group in the 1st quarter worth $40,000. Putney Financial Group LLC acquired a new stake in shares of Cigna Group in the 4th quarter worth $36,000. Finally, Transce3nd LLC acquired a new stake in shares of Cigna Group in the 4th quarter worth $38,000. Institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CI. Robert W. Baird lowered their price objective on Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Cowen reissued a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the stock a "buy" rating in a research report on Tuesday. Guggenheim reissued a "buy" rating and issued a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Barclays lowered their price objective on Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $377.72.

Cigna Group Stock Performance

Shares of NYSE CI traded up $4.03 during trading on Friday, reaching $275.03. 1,518,156 shares of the company traded hands, compared to its average volume of 2,047,994. The firm's fifty day simple moving average is $304.57 and its 200 day simple moving average is $311.45. The stock has a market cap of $73.41 billion, a P/E ratio of 15.01, a PEG ratio of 0.79 and a beta of 0.47. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

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

Cigna Group Dividend Announcement

The firm 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 $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, September 4th. Cigna Group's payout ratio is currently 32.97%.

Cigna Group Company 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.