Brookwood Investment Group LLC Takes $328,000 Position in Cigna Group (NYSE:CI)

Key Points

• Brookwood Investment Group LLC has acquired a new stake in Cigna Group, purchasing 997 shares valued at approximately $328,000 during the first quarter.
• Cigna Group reported $6.74 earnings per share for the latest quarter, surpassing the expected $6.35 and reflecting a 14.4% year-over-year revenue increase to $65.45 billion.
• The company recently announced a quarterly dividend of $1.51 per share, representing a 2.04% yield, with a dividend payout ratio of 33.44%.

Brookwood Investment Group LLC acquired a new position in shares of Cigna Group (NYSE:CI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 997 shares of the health services provider's stock, valued at approximately $328,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CI. Two Sigma Investments LP increased its holdings in shares of Cigna Group by 32.6% in the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after purchasing an additional 188,235 shares during the period. Humankind Investments LLC increased its holdings in shares of Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after purchasing an additional 571 shares during the period. NBC Securities Inc. bought a new stake in shares of Cigna Group in the 1st quarter valued at approximately $123,000. SBI Securities Co. Ltd. grew its stake in shares of Cigna Group by 18.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock valued at $131,000 after buying an additional 63 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Cigna Group in the 4th quarter valued at approximately $867,785,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CI shares. Robert W. Baird lowered their price target on Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Barclays reissued an "overweight" rating and issued a $385.00 price objective (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Guggenheim reissued a "buy" rating and issued a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Truist Financial increased 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. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $380.39.

Cigna Group Trading Up 1.1%

CI stock traded up $3.11 during midday trading on Tuesday, reaching $295.50. The stock had a trading volume of 754,378 shares, compared to its average volume of 1,795,042. The business has a fifty day simple moving average of $311.94 and a two-hundred day simple moving average of $312.42. 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 has a market cap of $78.94 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.89 and a beta of 0.44. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company's revenue was up 14.4% on a year-over-year basis. During the same period last year, the company earned $6.47 earnings per share. As a group, research analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.04%. Cigna Group's payout ratio is currently 33.44%.

About Cigna Group

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.