Davidson Investment Advisors Has $21.45 Million Stock Position in Cigna Group (NYSE:CI)

Davidson Investment Advisors increased its stake in Cigna Group (NYSE:CI - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,196 shares of the health services provider's stock after buying an additional 11,350 shares during the quarter. Davidson Investment Advisors' holdings in Cigna Group were worth $21,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Fullcircle Wealth LLC grew its holdings in Cigna Group by 13.8% during the first quarter. Fullcircle Wealth LLC now owns 760 shares of the health services provider's stock worth $254,000 after purchasing an additional 92 shares during the period. Callan Capital LLC acquired a new stake in shares of Cigna Group in the first quarter valued at approximately $363,000. TD Private Client Wealth LLC boosted its stake in shares of Cigna Group by 4.1% during the 1st quarter. TD Private Client Wealth LLC now owns 4,472 shares of the health services provider's stock worth $1,471,000 after acquiring an additional 175 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Cigna Group by 10.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 329,177 shares of the health services provider's stock worth $108,299,000 after acquiring an additional 29,849 shares during the last quarter. Finally, Roffman Miller Associates Inc. PA increased its holdings in shares of Cigna Group by 16.1% during the 1st quarter. Roffman Miller Associates Inc. PA now owns 60,874 shares of the health services provider's stock worth $20,028,000 after acquiring an additional 8,442 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CI. 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. Robert W. Baird dropped their price target on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Truist Financial increased their price target on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Finally, Morgan Stanley increased their target price on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $380.39.

Cigna Group Price Performance

NYSE:CI traded down $6.41 on Monday, hitting $313.34. The company had a trading volume of 1,397,162 shares, compared to its average volume of 1,742,260. The stock has a market capitalization of $83.71 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 0.95 and a beta of 0.44. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $319.74 and a two-hundred day moving average of $309.81.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $60.39 billion. During the same period last year, the firm posted $6.47 earnings per share. The business's revenue for the quarter was up 14.4% on a year-over-year basis. On average, research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The company also recently declared 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is 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.