IFM Investors Pty Ltd Increases Stake in Cigna Group (NYSE:CI)

IFM Investors Pty Ltd grew its holdings in Cigna Group (NYSE:CI - Free Report) by 7.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,568 shares of the health services provider's stock after purchasing an additional 4,283 shares during the period. IFM Investors Pty Ltd's holdings in Cigna Group were worth $20,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TCTC Holdings LLC purchased a new position in shares of Cigna Group during the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new position in shares of Cigna Group during the fourth quarter valued at $36,000. Transce3nd LLC purchased a new position in shares of Cigna Group during the fourth quarter valued at $38,000. Ameriflex Group Inc. purchased a new position in shares of Cigna Group during the fourth quarter valued at $44,000. Finally, Heck Capital Advisors LLC bought a new stake in Cigna Group during the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Stock Performance

Shares of Cigna Group stock traded down $0.92 on Friday, reaching $319.48. 852,424 shares of the stock were exchanged, compared to its average volume of 1,743,119. 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 twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market capitalization of $85.34 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.95 and a beta of 0.44. The business has a 50 day moving average price of $319.74 and a two-hundred day moving average price of $309.38.

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

Cigna Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CI shares. Truist Financial raised their price objective on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Barclays reaffirmed an "overweight" rating and set a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. 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, June 26th. TD Cowen raised Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Finally, Piper Sandler raised their price objective on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Cigna Group currently has a consensus rating of "Buy" and an average price target of $380.39.

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.