Oppenheimer Asset Management Inc. Increases Stock Holdings in Cigna Group (NYSE:CI)

Oppenheimer Asset Management Inc. increased its position in shares of Cigna Group (NYSE:CI - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,635 shares of the health services provider's stock after acquiring an additional 1,737 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Cigna Group were worth $10,408,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CI. Brighton Jones LLC lifted its stake in Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after acquiring an additional 318 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in Cigna Group by 26.8% in the 4th quarter. Pinnacle Financial Partners Inc now owns 800 shares of the health services provider's stock valued at $222,000 after purchasing an additional 169 shares in the last quarter. Howard Capital Management Inc. raised its position in Cigna Group by 4.6% in the 4th quarter. Howard Capital Management Inc. now owns 2,007 shares of the health services provider's stock valued at $554,000 after purchasing an additional 89 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Cigna Group by 80.9% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,760 shares of the health services provider's stock valued at $4,352,000 after purchasing an additional 7,046 shares in the last quarter. Finally, Roffman Miller Associates Inc. PA raised its position in Cigna Group by 15.6% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 52,432 shares of the health services provider's stock valued at $14,479,000 after purchasing an additional 7,066 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Stock Performance

NYSE:CI traded down $1.32 during mid-day trading on Wednesday, reaching $315.51. 1,434,874 shares of the stock were exchanged, compared to its average volume of 1,711,652. The company has a 50 day simple moving average of $320.73 and a 200-day simple moving average of $307.64. The stock has a market capitalization of $84.29 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.94 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 1 year low of $262.03 and a 1 year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.47 EPS. Analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid 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 1.91%. Cigna Group's dividend payout ratio is presently 33.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Mizuho increased their price target on Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. TD Cowen raised Cigna Group to a "strong-buy" rating in a research report on Monday. Robert W. Baird reduced their price target on Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen raised Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Truist Financial increased their price target on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price 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.