FourThought Financial Partners LLC Raises Stock Holdings in Cigna Group (NYSE:CI)

Key Points

• FourThought Financial Partners LLC increased its stake in Cigna Group by 61.2%, acquiring an additional 6,760 shares to reach a total of 17,805 shares valued at approximately $5.86 million.
• Cigna Group reported earnings of $6.74 per share, surpassing analysts' expectations, with quarterly revenue of $65.45 billion, reflecting a 14.4% year-over-year increase.
• The company announced a quarterly dividend of $1.51 per share, set to be paid on September 18, with an annualized yield of 2.04% and a dividend payout ratio of 33.44%.

FourThought Financial Partners LLC boosted its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 61.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,805 shares of the health services provider's stock after buying an additional 6,760 shares during the quarter. FourThought Financial Partners LLC's holdings in Cigna Group were worth $5,858,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CI. Norges Bank purchased a new stake in Cigna Group during the fourth quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. purchased a new stake in Cigna Group during the fourth quarter valued at $724,517,000. GAMMA Investing LLC raised its stake in Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after purchasing an additional 1,771,613 shares in the last quarter. Two Sigma Advisers LP raised its stake in Cigna Group by 278.0% during the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock valued at $225,385,000 after purchasing an additional 600,300 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its stake in Cigna Group by 400.9% during the fourth quarter. Voloridge Investment Management LLC now owns 643,253 shares of the health services provider's stock valued at $177,628,000 after purchasing an additional 514,841 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Price Performance

Cigna Group stock traded up $5.95 during trading on Wednesday, reaching $298.12. The company had a trading volume of 1,066,358 shares, compared to its average volume of 1,798,184. The firm's 50-day simple moving average is $311.29 and its 200 day simple moving average is $312.28. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market capitalization of $79.64 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44. 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 announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the previous year, the company posted $6.47 EPS. The firm's quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.03%. Cigna Group's dividend payout ratio is presently 33.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Wall Street Zen cut shares of Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Mizuho boosted their price objective 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. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Guggenheim reiterated a "buy" rating and set a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $380.39.

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.