Cigna Group $CI Shares Purchased by Qtron Investments LLC

Key Points

• Qtron Investments LLC has increased its stake in Cigna Group by 58.7% during the 1st quarter, holding a total of 4,052 shares valued at approximately $1.33 million.
• Cigna Group reported a quarterly earnings per share of $7.20, exceeding analysts' estimates, with revenues of $67.13 billion for the quarter, marking an 11% increase year-over-year.
• The company declared a quarterly dividend of $1.51 per share, with a yield of 2.0%, indicating a commitment to returning value to shareholders.

Qtron Investments LLC lifted its stake in Cigna Group (NYSE:CI - Free Report) by 58.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,052 shares of the health services provider's stock after acquiring an additional 1,498 shares during the quarter. Qtron Investments LLC's holdings in Cigna Group were worth $1,333,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CI. Brighton Jones LLC increased its stake in Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after buying an additional 318 shares during the period. Zacks Investment Management purchased a new stake in Cigna Group during the 4th quarter worth approximately $214,000. Capital International Sarl increased its stake in Cigna Group by 34.5% during the 4th quarter. Capital International Sarl now owns 2,145 shares of the health services provider's stock worth $592,000 after buying an additional 550 shares during the period. GeoWealth Management LLC increased its stake in Cigna Group by 47.9% during the 4th quarter. GeoWealth Management LLC now owns 2,445 shares of the health services provider's stock worth $675,000 after buying an additional 792 shares during the period. Finally, Capital World Investors increased its stake in Cigna Group by 2.6% during the 4th quarter. Capital World Investors now owns 1,238,232 shares of the health services provider's stock worth $341,925,000 after buying an additional 30,906 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Piper Sandler upped their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wells Fargo & Company dropped their price objective on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research report on Thursday. Guggenheim reissued a "buy" rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $378.33.

Cigna Group Stock Up 2.3%

Shares of NYSE:CI opened at $297.02 on Monday. The stock has a market cap of $79.28 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.87 and a beta of 0.47. The firm has a fifty day moving average price of $302.03 and a 200 day moving average price of $311.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly 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. The firm had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.72 EPS. Sell-side analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm 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 dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. Cigna Group's dividend payout ratio is currently 32.97%.

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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