Kentucky Retirement Systems Insurance Trust Fund bought a new position in Cigna Group (NYSE:CI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,826 shares of the health services provider's stock, valued at approximately $2,575,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. Norges Bank acquired a new position in Cigna Group in the 4th quarter worth $867,785,000. T. Rowe Price Investment Management Inc. acquired a new position in Cigna Group in the 4th quarter worth $724,517,000. GAMMA Investing LLC boosted its stake in Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after purchasing an additional 1,771,613 shares during the period. Raymond James Financial Inc. acquired a new position in Cigna Group in the 4th quarter worth $313,911,000. Finally, GQG Partners LLC boosted its stake in Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after purchasing an additional 737,099 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Mizuho raised their price objective on Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Truist Financial upped their target price on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Royal Bank Of Canada reissued an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Tuesday, June 3rd. Finally, Morgan Stanley boosted their price target on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two investment 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $380.39.
Get Our Latest Research Report on CI
Cigna Group Stock Performance
Shares of CI opened at $313.76 on Friday. The firm has a 50-day moving average of $321.48 and a 200-day moving average of $307.63. Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a market cap of $83.82 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72.
Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 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 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $6.47 EPS. As a group, equities analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.
Cigna Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.93%. Cigna Group's dividend payout ratio is currently 33.44%.
About Cigna Group
(
Free Report)
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.
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