Cigna Group $CI Holdings Raised by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group increased its stake in Cigna Group by 64.9%, acquiring an additional 1,529 shares, bringing its total holdings to 3,886 shares valued at $1,278,000.
• Cigna Group reported a quarterly earnings per share of $7.20, exceeding estimates, along with a revenue of $67.13 billion, which is an 11.0% increase year-over-year.
• The company announced a quarterly dividend of $1.51 per share, payable on September 18th, with an annualized yield of 2.0%.

Brooklyn Investment Group lifted its stake in shares of Cigna Group (NYSE:CI - Free Report) by 64.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,886 shares of the health services provider's stock after purchasing an additional 1,529 shares during the quarter. Brooklyn Investment Group's holdings in Cigna Group were worth $1,278,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in Cigna Group by 0.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock worth $3,834,493,000 after acquiring an additional 98,715 shares during the period. GQG Partners LLC lifted its holdings in shares of Cigna Group by 21.5% during the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock valued at $1,607,716,000 after buying an additional 865,092 shares during the last quarter. Northern Trust Corp lifted its holdings in Cigna Group by 11.7% in the 4th quarter. Northern Trust Corp now owns 3,140,201 shares of the health services provider's stock worth $867,135,000 after purchasing an additional 328,320 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Cigna Group in the 4th quarter worth approximately $724,517,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cigna Group by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,592 shares of the health services provider's stock worth $689,133,000 after buying an additional 326,633 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Up 2.3%

NYSE:CI opened at $297.02 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $79.28 billion, a PE ratio of 16.21, a PEG ratio of 0.87 and a beta of 0.47. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83. The stock has a 50-day simple moving average of $302.03 and a 200 day simple moving average of $311.33.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. The firm had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.72 earnings per share. On average, sell-side analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is 32.97%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CI. Barclays lowered their price objective on Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Piper Sandler upped their price target on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research 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 research report on Thursday, June 26th. Guggenheim reiterated a "buy" rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Robert W. Baird set a $372.00 price target on Cigna Group in a research report on Thursday. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Cigna Group presently has a consensus rating of "Moderate Buy" and an average target price of $378.33.

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.

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