Graham Capital Wealth Management LLC Has $3.24 Million Stock Position in Cigna Group (NYSE:CI)

Key Points

• Graham Capital Wealth Management LLC significantly increased its stake in Cigna Group by 721% during Q1, now owning 9,844 shares valued at approximately $3.24 million.
• Cigna Group reported a quarterly earnings per share (EPS) of $6.74, exceeding analysts' expectations of $6.35, with revenues of $65.45 billion, up 14.4% year-over-year.
• The company declared a quarterly dividend of $1.51 per share, representing an annual yield of 2.04%, with a payout ratio of 33.44%.

Graham Capital Wealth Management LLC increased its position in shares of Cigna Group (NYSE:CI - Free Report) by 721.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,844 shares of the health services provider's stock after acquiring an additional 8,645 shares during the period. Cigna Group makes up about 3.7% of Graham Capital Wealth Management LLC's holdings, making the stock its 3rd biggest position. Graham Capital Wealth Management LLC's holdings in Cigna Group were worth $3,239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Richardson Financial Services Inc. purchased a new position in Cigna Group in the 1st quarter worth approximately $38,000. Wayfinding Financial LLC purchased a new position in Cigna Group in the 1st quarter worth approximately $40,000. Putney Financial Group LLC purchased a new position in Cigna Group in the 4th quarter worth approximately $36,000. Transce3nd LLC purchased a new position in Cigna Group in the 4th quarter worth approximately $38,000. Finally, Ameriflex Group Inc. purchased a new position in Cigna Group in the 4th quarter worth approximately $44,000. Institutional investors own 86.99% of the company's stock.

Cigna Group Trading Down 8.1%

Cigna Group stock traded down $24.08 during mid-day trading on Thursday, reaching $273.78. 3,042,717 shares of the company traded hands, compared to its average volume of 1,817,534. 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 firm's 50 day moving average price is $310.91 and its 200 day moving average price is $312.18. The firm has a market capitalization of $73.14 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 0.88 and a beta of 0.44. Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.72 EPS. On average, analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's payout ratio is currently 33.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CI. Wall Street Zen lowered shares of Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Mizuho boosted their price objective on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Cowen restated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Finally, Truist Financial boosted their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two 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's stock. According to data from MarketBeat.com, Cigna Group presently has an average rating of "Buy" and a consensus target price 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.