Chung Wu Investment Group LLC Invests $496,000 in Cigna Group (NYSE:CI)

Chung Wu Investment Group LLC acquired a new stake in shares of Cigna Group (NYSE:CI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,508 shares of the health services provider's stock, valued at approximately $496,000.

Several other large investors have also bought and sold shares of the company. KPP Advisory Services LLC increased its holdings in Cigna Group by 10.3% in the 1st quarter. KPP Advisory Services LLC now owns 1,431 shares of the health services provider's stock worth $471,000 after buying an additional 134 shares in the last quarter. Penobscot Investment Management Company Inc. purchased a new stake in shares of Cigna Group during the 1st quarter valued at about $308,000. Sequoia Financial Advisors LLC grew its stake in shares of Cigna Group by 2.5% in the first quarter. Sequoia Financial Advisors LLC now owns 6,475 shares of the health services provider's stock worth $2,130,000 after acquiring an additional 159 shares during the period. Pure Financial Advisors LLC raised its holdings in shares of Cigna Group by 7.3% during the first quarter. Pure Financial Advisors LLC now owns 1,121 shares of the health services provider's stock valued at $369,000 after purchasing an additional 76 shares during the last quarter. Finally, Wealth Effects LLC bought a new position in Cigna Group during the first quarter valued at approximately $227,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CI. Wall Street Zen raised shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Mizuho increased their target price on Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Barclays reissued an "overweight" rating and issued a $385.00 target price (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Guggenheim reaffirmed a "buy" rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a research note on Tuesday, June 3rd. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $380.39.

Cigna Group Trading Down 0.4%

Shares of Cigna Group stock opened at $315.51 on Thursday. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 business has a 50-day moving average price of $320.73 and a 200-day moving average price of $307.64. The firm has a market cap of $84.29 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 0.94 and a beta of 0.44.

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

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is 33.44%.

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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