IFM Investors Pty Ltd Buys 4,283 Shares of Cigna Group (NYSE:CI)

IFM Investors Pty Ltd lifted its stake in shares of Cigna Group (NYSE:CI - Free Report) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,568 shares of the health services provider's stock after purchasing an additional 4,283 shares during the quarter. IFM Investors Pty Ltd's holdings in Cigna Group were worth $20,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CI. OneDigital Investment Advisors LLC boosted its position in Cigna Group by 2.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 10,775 shares of the health services provider's stock worth $3,545,000 after buying an additional 279 shares during the period. 4J Wealth Management LLC acquired a new stake in Cigna Group during the 1st quarter worth approximately $226,000. 44 Wealth Management LLC boosted its position in Cigna Group by 13.1% during the 1st quarter. 44 Wealth Management LLC now owns 2,406 shares of the health services provider's stock worth $792,000 after buying an additional 278 shares during the period. Avantax Planning Partners Inc. boosted its position in Cigna Group by 4.2% during the 1st quarter. Avantax Planning Partners Inc. now owns 1,045 shares of the health services provider's stock worth $344,000 after buying an additional 42 shares during the period. Finally, Calamos Advisors LLC boosted its position in Cigna Group by 1.1% during the 1st quarter. Calamos Advisors LLC now owns 49,815 shares of the health services provider's stock worth $16,389,000 after buying an additional 555 shares during the period. 86.99% of the stock is owned by institutional investors.

Cigna Group Stock Down 0.3%

CI stock traded down $0.92 during midday trading on Friday, reaching $319.48. 852,424 shares of the company's stock traded hands, compared to its average volume of 1,743,646. The company has a market cap of $85.35 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 0.95 and a beta of 0.44. The firm's fifty day moving average price is $319.74 and its 200-day moving average price is $309.56. 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 52 week low of $262.03 and a 52 week high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating 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 net margin of 1.97% and a return on equity of 18.63%. Cigna Group's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.47 EPS. As a group, sell-side analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.89%. Cigna Group's payout ratio is 33.44%.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cowen restated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Barclays restated an "overweight" rating and issued a $385.00 price target (up previously from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Mizuho boosted their price target on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Truist Financial boosted their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Cigna Group presently has an average rating of "Buy" and a consensus 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.