Bayforest Capital Ltd Purchases Shares of 4,112 Cigna Group (NYSE:CI)

Bayforest Capital Ltd purchased a new stake in 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 purchased 4,112 shares of the health services provider's stock, valued at approximately $1,353,000. Cigna Group makes up about 0.6% of Bayforest Capital Ltd's portfolio, making the stock its 7th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Family Legacy Inc. increased its stake in Cigna Group by 0.5% in the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock worth $2,138,000 after purchasing an additional 31 shares during the period. Impact Investors Inc increased its stake in Cigna Group by 1.6% in the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock worth $650,000 after purchasing an additional 31 shares during the period. Mission Wealth Management LP increased its stake in Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock worth $691,000 after purchasing an additional 32 shares during the period. Westend Capital Management LLC grew its position in shares of Cigna Group by 8.1% in the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock worth $140,000 after buying an additional 32 shares during the last quarter. Finally, Moody National Bank Trust Division grew its position in shares of Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock worth $1,509,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Stock Performance

Cigna Group stock traded down $5.12 during mid-day trading on Friday, reaching $262.26. 3,428,214 shares of the stock traded hands, compared to its average volume of 1,845,971. The stock has a market capitalization of $70.06 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.90 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The business's 50-day moving average is $309.98 and its 200-day moving average is $312.08.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter in the prior year, the business earned $6.72 earnings per share. Cigna Group's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's payout ratio is currently 33.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CI shares. Truist Financial lifted their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Morgan Stanley lifted their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cowen reiterated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Finally, Guggenheim restated a "buy" rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $378.67.

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.