Oppenheimer Asset Management Inc. Boosts Position in Cigna Group (NYSE:CI)

Oppenheimer Asset Management Inc. lifted its position in shares of Cigna Group (NYSE:CI - Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,635 shares of the health services provider's stock after purchasing an additional 1,737 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Cigna Group were worth $10,408,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. TCTC Holdings LLC purchased a new position in Cigna Group during the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new stake in shares of Cigna Group during the 4th quarter valued at about $36,000. Transce3nd LLC purchased a new position in shares of Cigna Group during the fourth quarter valued at about $38,000. Ameriflex Group Inc. purchased a new position in shares of Cigna Group during the fourth quarter valued at about $44,000. Finally, Heck Capital Advisors LLC bought a new position in Cigna Group in the fourth quarter worth about $53,000. 86.99% of the stock is owned by institutional investors.

Cigna Group Stock Down 1.0%

Shares of CI traded down $3.32 on Friday, hitting $326.68. 3,388,360 shares of the stock traded hands, compared to its average volume of 1,722,219. Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a market capitalization of $87.27 billion, a PE ratio of 18.09, a P/E/G ratio of 0.94 and a beta of 0.44. The business has a 50 day simple moving average of $320.71 and a 200 day simple moving average of $307.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72.

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, topping analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $6.47 EPS. As a group, equities analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.51 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.85%. Cigna Group's dividend payout ratio (DPR) is 33.44%.

Analyst Upgrades and Downgrades

CI has been the topic of several research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research report on Thursday. Barclays restated an "overweight" rating and set a $385.00 price target (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a report on Monday. Cowen reissued a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Company 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.