Cigna Group (NYSE:CI) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC lifted its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 21.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,966 shares of the health services provider's stock after acquiring an additional 1,383 shares during the period. Ballentine Partners LLC's holdings in Cigna Group were worth $2,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Family Legacy Inc. boosted its holdings in Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after purchasing an additional 31 shares during the last quarter. Impact Investors Inc boosted its holdings in Cigna Group by 1.6% in the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after purchasing an additional 31 shares during the last quarter. Mission Wealth Management LP boosted its holdings in Cigna Group by 1.5% in the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after purchasing an additional 32 shares during the last quarter. Westend Capital Management LLC boosted its holdings in Cigna Group by 8.1% in the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Mizuho increased their target price on Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Cantor Fitzgerald increased their target price on Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Barclays reaffirmed an "overweight" rating and set a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Truist Financial increased their target price on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, TD Cowen raised Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Two investment 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. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Stock Down 2.0%

CI opened at $302.71 on Friday. Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $80.86 billion, a P/E ratio of 16.76, a P/E/G ratio of 0.90 and a beta of 0.44. The stock's 50 day moving average price is $317.02 and its 200 day moving average price is $310.62.

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

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

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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