Cigna Group (NYSE:CI) Stock Position Boosted by Factorial Partners LLC

Key Points

• Factorial Partners LLC increased its stake in Cigna Group by 15.7% during the first quarter, now holding 14,400 shares worth approximately $4.74 million.
• Cigna Group reported $7.20 EPS for the recent quarter, exceeding estimates by $0.05, with revenue reaching $67.13 billion, a year-over-year growth of 11%.
• The company declared a quarterly dividend of $1.51, translating to an annualized yield of 2.3% and a payout ratio of 32.97%.

Factorial Partners LLC boosted its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,400 shares of the health services provider's stock after acquiring an additional 1,950 shares during the period. Cigna Group comprises about 2.9% of Factorial Partners LLC's portfolio, making the stock its 8th largest position. Factorial Partners LLC's holdings in Cigna Group were worth $4,738,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after purchasing an additional 318 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Cigna Group by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider's stock worth $4,658,000 after acquiring an additional 1,689 shares during the last quarter. World Investment Advisors grew its stake in shares of Cigna Group by 115.7% during the fourth quarter. World Investment Advisors now owns 3,495 shares of the health services provider's stock worth $965,000 after acquiring an additional 1,875 shares during the last quarter. Perennial Investment Advisors LLC increased its holdings in shares of Cigna Group by 6.4% during the fourth quarter. Perennial Investment Advisors LLC now owns 971 shares of the health services provider's stock valued at $268,000 after acquiring an additional 58 shares in the last quarter. Finally, Employees Retirement System of Texas raised its position in shares of Cigna Group by 19.8% in the 4th quarter. Employees Retirement System of Texas now owns 35,432 shares of the health services provider's stock valued at $9,784,000 after purchasing an additional 5,867 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CI. Morgan Stanley raised their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Piper Sandler raised their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the company a "buy" rating in a report on Tuesday. Finally, Truist Financial lifted their price objective on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $377.72.

Cigna Group Stock Performance

Cigna Group stock traded up $0.04 during mid-day trading on Thursday, reaching $270.00. 1,964,136 shares of the company were exchanged, compared to its average volume of 1,999,262. The firm has a market cap of $72.07 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.79 and a beta of 0.47. 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 firm's 50-day simple moving average is $305.39 and its two-hundred day simple moving average is $311.54. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.72 EPS. Equities analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) 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.