Concurrent Investment Advisors LLC Buys 1,125 Shares of Cigna Group (NYSE:CI)

Concurrent Investment Advisors LLC increased its holdings in Cigna Group (NYSE:CI - Free Report) by 29.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,987 shares of the health services provider's stock after purchasing an additional 1,125 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Cigna Group were worth $1,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC purchased a new position in Cigna Group during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in Cigna Group during the fourth quarter valued at approximately $36,000. Transce3nd LLC purchased a new position in Cigna Group during the fourth quarter valued at approximately $38,000. Wayfinding Financial LLC purchased a new position in Cigna Group during the first quarter valued at approximately $40,000. Finally, Ameriflex Group Inc. purchased a new position in Cigna Group during the fourth quarter valued at approximately $44,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Robert W. Baird lowered their price objective 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. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and set a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Finally, TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Cigna Group presently has an average rating of "Buy" and a consensus price target of $380.39.

Cigna Group Stock Performance

NYSE:CI traded down $1.62 during trading hours on Tuesday, hitting $312.01. 1,599,360 shares of the company traded hands, compared to its average volume of 1,741,690. The stock has a market capitalization of $83.35 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 0.95 and a beta of 0.44. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a 50-day moving average of $319.30 and a 200 day moving average of $310.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the prior year, the company posted $6.47 EPS. The business's revenue was up 14.4% on a year-over-year basis. On average, analysts forecast that Cigna Group will post 29.77 EPS for the current 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 given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

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.