Spirepoint Private Client LLC Raises Position in Cigna Group (NYSE:CI)

Spirepoint Private Client LLC raised its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 16.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,933 shares of the health services provider's stock after purchasing an additional 3,657 shares during the period. Cigna Group accounts for about 1.1% of Spirepoint Private Client LLC's holdings, making the stock its 27th largest holding. Spirepoint Private Client LLC's holdings in Cigna Group were worth $8,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CI. Two Sigma Investments LP increased its position in shares of Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after buying an additional 188,235 shares during the period. Humankind Investments LLC boosted its position in Cigna Group by 12.1% during the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after acquiring an additional 571 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Cigna Group during the 1st quarter worth approximately $123,000. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Cigna Group by 10.5% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 17,366 shares of the health services provider's stock worth $4,796,000 after acquiring an additional 1,653 shares during the period. Finally, BankPlus Trust Department bought a new position in shares of Cigna Group in the 4th quarter worth approximately $332,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CI shares. Robert W. Baird lowered their price objective on Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Piper Sandler increased their price target 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. Morgan Stanley boosted their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Guggenheim reaffirmed a "buy" rating and set a $388.00 target price 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 issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $380.39.

Cigna Group Trading Down 0.4%

Shares of CI traded down $1.32 during midday trading on Wednesday, reaching $315.51. The company had a trading volume of 1,434,874 shares, compared to its average volume of 1,709,885. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm has a 50 day simple moving average of $321.01 and a 200-day simple moving average of $307.59. The stock has a market cap of $84.29 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44.

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

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

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.