Callan Capital LLC Purchases New Position in Cigna Group (NYSE:CI)

Callan Capital LLC purchased a new stake in shares of Cigna Group (NYSE:CI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,103 shares of the health services provider's stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Two Sigma Investments LP lifted its position in Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after buying an additional 188,235 shares during the last quarter. Humankind Investments LLC lifted its position in Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after buying an additional 571 shares during the last quarter. NBC Securities Inc. bought a new stake in Cigna Group in the first quarter worth $123,000. First American Trust FSB bought a new stake in Cigna Group in the fourth quarter worth $4,471,000. Finally, English Capital Management LLC lifted its position in Cigna Group by 6.2% in the fourth quarter. English Capital Management LLC now owns 20,586 shares of the health services provider's stock worth $5,685,000 after buying an additional 1,202 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Cigna Group Stock Performance

NYSE CI opened at $313.34 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. The stock's fifty day moving average is $319.30 and its two-hundred day moving average is $310.06. The firm has a market capitalization of $83.71 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 0.95 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.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating 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 net margin of 1.97% and a return on equity of 18.63%. Cigna Group's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.47 earnings per share. On average, research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.93%. Cigna Group's dividend payout ratio (DPR) is 33.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price target on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Robert W. Baird reduced their price target on Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Wall Street Zen upgraded Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Truist Financial raised their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two investment 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $380.39.

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.

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