Capital Investment Advisory Services LLC Makes New Investment in Cigna Group (NYSE:CI)

Capital Investment Advisory Services LLC purchased a new stake in Cigna Group (NYSE:CI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 2,010 shares of the health services provider's stock, valued at approximately $661,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after purchasing an additional 318 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Cigna Group in the 4th quarter valued at about $93,000. Proficio Capital Partners LLC raised its position in shares of Cigna Group by 24.5% during the 4th quarter. Proficio Capital Partners LLC now owns 864 shares of the health services provider's stock worth $239,000 after buying an additional 170 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Cigna Group by 13.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,986 shares of the health services provider's stock worth $824,000 after buying an additional 362 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Cigna Group by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,854 shares of the health services provider's stock worth $870,000 after buying an additional 197 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CI. Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Robert W. Baird dropped their price target on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Barclays restated an "overweight" rating and set a $385.00 price target (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Guggenheim reiterated a "buy" rating and issued a $388.00 target price on shares of Cigna Group in a report on Friday, May 23rd. Finally, Piper Sandler boosted their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Trading Down 0.4%

Shares of Cigna Group stock traded down $1.31 during trading on Thursday, hitting $308.48. The stock had a trading volume of 989,312 shares, compared to its average volume of 1,737,070. The stock has a 50 day simple moving average of $318.18 and a 200 day simple moving average of $310.07. The company has a market capitalization of $82.41 billion, a PE ratio of 17.08, a P/E/G ratio of 0.93 and a beta of 0.44. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

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

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's payout ratio is presently 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.