Country Club Bank Increases Stock Position in Cigna Group (NYSE:CI)

Country Club Bank grew its position in shares of Cigna Group (NYSE:CI - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,435 shares of the health services provider's stock after purchasing an additional 974 shares during the quarter. Country Club Bank's holdings in Cigna Group were worth $5,667,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC purchased a new position in shares of Cigna Group during the fourth quarter worth about $25,000. Putney Financial Group LLC purchased a new position in shares of Cigna Group during the fourth quarter worth about $36,000. Transce3nd LLC purchased a new position in shares of Cigna Group during the fourth quarter worth about $38,000. Wayfinding Financial LLC purchased a new stake in Cigna Group in the 1st quarter valued at approximately $40,000. Finally, Ameriflex Group Inc. purchased a new stake in Cigna Group in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CI shares. Piper Sandler lifted their price objective on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wall Street Zen raised Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Truist Financial lifted their price objective on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Mizuho lifted their price target on shares of Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $380.39.

Cigna Group Trading Down 2.0%

CI traded down $6.07 during trading on Friday, hitting $302.71. The company's stock had a trading volume of 1,590,753 shares, compared to its average volume of 1,737,879. The firm's 50 day moving average price is $317.65 and its 200-day moving average price is $310.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $80.86 billion, a PE ratio of 16.76, a PEG ratio of 0.92 and a beta of 0.44. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. Cigna Group's revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $6.47 EPS. On average, analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 2.00%. Cigna Group's dividend payout ratio is presently 33.44%.

About Cigna Group

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.