Homestead Advisers Corp Has $70.20 Million Stock Holdings in Cigna Group (NYSE:CI)

Homestead Advisers Corp decreased its position in Cigna Group (NYSE:CI - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,362 shares of the health services provider's stock after selling 35,000 shares during the period. Cigna Group comprises 1.7% of Homestead Advisers Corp's portfolio, making the stock its 27th largest holding. Homestead Advisers Corp owned 0.08% of Cigna Group worth $70,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Putney Financial Group LLC purchased a new stake in shares of Cigna Group in the fourth quarter valued at approximately $36,000. Transce3nd LLC purchased a new stake in shares of Cigna Group in the fourth quarter valued at approximately $38,000. Wayfinding Financial LLC acquired a new position in Cigna Group during the first quarter worth about $40,000. Ameriflex Group Inc. acquired a new position in Cigna Group during the fourth quarter worth about $44,000. Finally, Heck Capital Advisors LLC acquired a new position in Cigna Group during the fourth quarter worth about $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Price Performance

Shares of CI stock traded down $10.67 during midday trading on Thursday, reaching $293.67. 1,651,342 shares of the company were exchanged, compared to its average volume of 1,811,551. Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a market cap of $78.45 billion, a P/E ratio of 16.26, a PEG ratio of 0.90 and a beta of 0.44. The company's 50 day moving average price is $313.31 and its two-hundred day moving average price is $311.66. 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 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 net margin of 1.97% and a return on equity of 18.63%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the firm earned $6.47 EPS. The business's revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Analyst Ratings Changes

Several research analysts have weighed in on CI shares. Robert W. Baird lowered their target price on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Guggenheim restated a "buy" rating and set a $388.00 target price on shares of Cigna Group in a research report on Friday, May 23rd. Morgan Stanley upped their target price on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Mizuho upped their target price 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. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cigna Group presently 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.