Commonwealth Equity Services LLC Has $37.37 Million Holdings in Cigna Group (NYSE:CI)

Key Points

• Commonwealth Equity Services LLC increased its position in Cigna Group by 2.4%, owning 113,584 shares valued at approximately $37.37 million as of the end of the first quarter.
• Cigna Group has seen significant interest from institutional investors, with Bank of Nova Scotia boosting its stake by 163.2% in the first quarter, now owning 333,435 shares worth $109.7 million.
• Cigna Group reported earnings per share of $7.20 for the last quarter, exceeding expectations, and announced a quarterly dividend of $1.51, representing an annualized yield of 2.2%.

Commonwealth Equity Services LLC raised its stake in shares of Cigna Group (NYSE:CI - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,584 shares of the health services provider's stock after buying an additional 2,614 shares during the period. Commonwealth Equity Services LLC's holdings in Cigna Group were worth $37,369,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its stake in Cigna Group by 0.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock valued at $3,834,493,000 after buying an additional 98,715 shares during the period. Sanders Capital LLC grew its stake in shares of Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock worth $2,224,296,000 after purchasing an additional 154,420 shares during the last quarter. Northern Trust Corp grew its stake in shares of Cigna Group by 11.7% in the 4th quarter. Northern Trust Corp now owns 3,140,201 shares of the health services provider's stock worth $867,135,000 after purchasing an additional 328,320 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Cigna Group in the 4th quarter worth approximately $724,517,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cigna Group by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,592 shares of the health services provider's stock worth $689,133,000 after purchasing an additional 326,633 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Stock Up 1.5%

CI traded up $4.03 during midday trading on Friday, hitting $275.03. 1,518,156 shares of the company's stock traded hands, compared to its average volume of 2,047,994. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The company has a market cap of $73.41 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.79 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The stock's fifty day simple moving average is $305.39 and its 200-day simple moving average is $311.54.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter last year, the firm posted $6.72 earnings per share. The company's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's payout ratio is 32.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Guggenheim reiterated a "buy" rating and issued a $350.00 target price (down from $388.00) on shares of Cigna Group in a report on Monday. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the stock a "buy" rating in a report on Tuesday. Robert W. Baird decreased their price target on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $377.72.

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.