Cigna Group (NYSE:CI) Shares Bought by GQG Partners LLC

Key Points

• GQG Partners LLC increased its stake in Cigna Group by 21.5%, acquiring 865,092 shares to own a total of 4,886,674 shares, which represents approximately 2.6% of its portfolio.
• Cigna Group reported a quarterly earnings per share (EPS) of $7.20, exceeding estimates by $0.05, and experienced an 11% year-over-year revenue growth to $67.13 billion.
• The company declared a quarterly dividend of $1.51, with a yield of 2.2%, and will be paid to investors of record on September 4th.

GQG Partners LLC increased its position in shares of Cigna Group (NYSE:CI - Free Report) by 21.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,886,674 shares of the health services provider's stock after purchasing an additional 865,092 shares during the quarter. Cigna Group accounts for approximately 2.6% of GQG Partners LLC's investment portfolio, making the stock its 12th largest holding. GQG Partners LLC owned 1.83% of Cigna Group worth $1,607,716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Putney Financial Group LLC purchased a new stake in shares of Cigna Group in the fourth quarter valued at approximately $36,000. Evermay Wealth Management LLC increased its position in shares of Cigna Group by 58.6% during the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after purchasing an additional 41 shares in the last quarter. Transce3nd LLC acquired a new position in Cigna Group in the 4th quarter valued at $38,000. Richardson Financial Services Inc. purchased a new position in Cigna Group in the 1st quarter valued at $38,000. Finally, Wayfinding Financial LLC acquired a new stake in Cigna Group during the 1st quarter worth $40,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Piper Sandler lifted their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Barclays dropped their target price on Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $378.33.

Cigna Group Trading Up 2.3%

CI traded up $6.67 during mid-day trading on Friday, hitting $297.02. 2,918,002 shares of the stock were exchanged, compared to its average volume of 2,115,989. The firm's fifty day moving average is $302.03 and its two-hundred day moving average is $311.07. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market cap of $79.28 billion, a PE ratio of 16.21, a PEG ratio of 0.85 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. Cigna Group's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.72 EPS. Equities analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group's dividend payout ratio is presently 32.97%.

Cigna Group 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.