DekaBank Deutsche Girozentrale lifted its position in shares of Cigna Group (NYSE:CI - Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,854 shares of the health services provider's stock after purchasing an additional 1,371 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.07% of Cigna Group worth $62,218,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. May Hill Capital LLC raised its position in Cigna Group by 5.6% in the 1st quarter. May Hill Capital LLC now owns 947 shares of the health services provider's stock valued at $312,000 after buying an additional 50 shares during the last quarter. Navalign LLC raised its position in Cigna Group by 2.1% in the 1st quarter. Navalign LLC now owns 4,774 shares of the health services provider's stock valued at $1,571,000 after buying an additional 97 shares during the last quarter. Davidson Investment Advisors raised its position in Cigna Group by 21.1% in the 1st quarter. Davidson Investment Advisors now owns 65,196 shares of the health services provider's stock valued at $21,450,000 after buying an additional 11,350 shares during the last quarter. Fullcircle Wealth LLC raised its position in Cigna Group by 13.8% in the 1st quarter. Fullcircle Wealth LLC now owns 760 shares of the health services provider's stock valued at $254,000 after buying an additional 92 shares during the last quarter. Finally, Callan Capital LLC purchased a new stake in Cigna Group in the 1st quarter valued at $363,000. 86.99% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
CI has been the subject of a number of analyst reports. Piper Sandler increased 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. Barclays restated an "overweight" rating and issued a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Finally, Guggenheim restated a "buy" rating and issued a $388.00 price objective on shares of Cigna Group in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $380.39.
Read Our Latest Stock Report on Cigna Group
Cigna Group Price Performance
CI traded down $6.07 during trading on Friday, reaching $302.71. 1,590,753 shares of the company were exchanged, compared to its average volume of 1,741,564. The company's 50-day moving average is $317.02 and its two-hundred day moving average is $310.62. The company has a market cap of $80.86 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 0.90 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 12-month low of $262.03 and a 12-month high of $370.83.
Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the prior year, the firm posted $6.47 EPS. The firm's quarterly revenue was up 14.4% on a year-over-year basis. Research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.
Cigna Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 2.00%. Cigna Group's payout ratio is currently 33.44%.
About Cigna Group
(
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.
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