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Charles Schwab Investment Management Inc. Acquires 60,140 Shares of Cigna Group (NYSE:CI)

Cigna Group logo with Medical background

Key Points

  • Charles Schwab Investment Management Inc. increased its stake in Cigna Group by 3.0%, holding a total of 2,037,898 shares valued at approximately $670.5 million.
  • Cigna Group reported a quarterly earnings per share of $7.20, exceeding analysts' expectations and reflecting an 11.0% year-over-year revenue growth to $67.13 billion.
  • The company declared a quarterly dividend of $1.51 per share, resulting in an annualized dividend yield of 2.2% with a payout ratio of 32.97%.
  • Looking to Export and Analyze Cigna Group Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Charles Schwab Investment Management Inc. grew its position in shares of Cigna Group (NYSE:CI - Free Report) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,037,898 shares of the health services provider's stock after buying an additional 60,140 shares during the period. Charles Schwab Investment Management Inc. owned 0.76% of Cigna Group worth $670,468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Coign Capital Advisors LLC increased its holdings in Cigna Group by 2.3% during the 1st quarter. Coign Capital Advisors LLC now owns 1,951 shares of the health services provider's stock worth $642,000 after acquiring an additional 44 shares during the period. ASR Vermogensbeheer N.V. purchased a new position in shares of Cigna Group during the 1st quarter valued at $11,446,000. Hemington Wealth Management increased its holdings in shares of Cigna Group by 15.3% in the first quarter. Hemington Wealth Management now owns 407 shares of the health services provider's stock worth $133,000 after purchasing an additional 54 shares during the period. WealthShield Partners LLC bought a new position in shares of Cigna Group in the first quarter worth $326,000. Finally, AXS Investments LLC raised its position in shares of Cigna Group by 8.2% in the first quarter. AXS Investments LLC now owns 822 shares of the health services provider's stock worth $270,000 after buying an additional 62 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Cigna Group Trading Up 1.5%

CI traded up $4.03 during trading on Friday, hitting $275.03. 1,518,156 shares of the stock traded hands, compared to its average volume of 2,047,994. The firm has a market capitalization of $73.41 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.81 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 debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50-day moving average of $304.57 and a 200 day moving average of $311.60.

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

Cigna Group Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio is presently 32.97%.

Analyst Ratings Changes

A number of brokerages have weighed in on CI. Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Cowen restated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Morgan Stanley raised their target price on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a "buy" rating in a research note on Tuesday. Finally, Barclays lowered their price objective on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $377.72.

View Our Latest Stock Report on Cigna Group

Cigna Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cigna Group (NYSE:CI)

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