GAMMA Investing LLC Acquires 2,381 Shares of Cigna Group (NYSE:CI)

GAMMA Investing LLC lifted its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,394 shares of the health services provider's stock after purchasing an additional 2,381 shares during the period. GAMMA Investing LLC's holdings in Cigna Group were worth $1,775,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Yousif Capital Management LLC boosted its stake in shares of Cigna Group by 0.3% during the first quarter. Yousif Capital Management LLC now owns 48,808 shares of the health services provider's stock valued at $16,058,000 after purchasing an additional 129 shares during the period. Pallas Capital Advisors LLC grew its holdings in Cigna Group by 170.5% in the 1st quarter. Pallas Capital Advisors LLC now owns 3,684 shares of the health services provider's stock worth $1,212,000 after acquiring an additional 2,322 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Cigna Group by 93.3% in the first quarter. Farther Finance Advisors LLC now owns 3,505 shares of the health services provider's stock valued at $1,160,000 after acquiring an additional 1,692 shares during the period. Daymark Wealth Partners LLC increased its position in shares of Cigna Group by 10.1% in the first quarter. Daymark Wealth Partners LLC now owns 1,179 shares of the health services provider's stock valued at $388,000 after acquiring an additional 108 shares during the period. Finally, Portside Wealth Group LLC boosted its holdings in shares of Cigna Group by 2.6% during the first quarter. Portside Wealth Group LLC now owns 3,613 shares of the health services provider's stock worth $1,189,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CI. Mizuho upped their price target on Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Cowen reiterated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Robert W. Baird reduced their price target 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. Wall Street Zen raised shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald increased their price target on shares of Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Two 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 stock. According to MarketBeat.com, Cigna Group presently has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Stock Performance

Shares of NYSE CI traded down $9.82 during trading on Wednesday, reaching $324.57. 1,861,455 shares of the company traded hands, compared to its average volume of 1,736,795. The stock has a market capitalization of $86.71 billion, a PE ratio of 17.97, a P/E/G ratio of 0.98 and a beta of 0.44. The firm has a 50 day simple moving average of $320.71 and a 200-day simple moving average of $308.60. Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last released 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. 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 analysts' expectations of $60.39 billion. During the same period in the prior year, the firm earned $6.47 EPS. The company's revenue was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is presently 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.