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Koss Olinger Consulting LLC Buys New Stake in Cigna Group (NYSE:CI)

Cigna Group logo with Medical background

Key Points

  • Koss Olinger Consulting LLC has purchased a new stake in Cigna Group (NYSE:CI) totaling 990 shares valued at approximately $326,000 during the first quarter.
  • Cigna Group recently declared a quarterly dividend of $1.51 per share, with a dividend yield of 2.2% and a payout ratio of 32.97%.
  • Analysts rate Cigna Group's stock as an average "Moderate Buy" with a target price of $377.72, supported by multiple firms including Cowen and Deutsche Bank.
  • Need better tools to track Cigna Group? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Koss Olinger Consulting LLC bought a new stake in Cigna Group (NYSE:CI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 990 shares of the health services provider's stock, valued at approximately $326,000.

A number of other hedge funds have also recently modified their holdings of the stock. Evermay Wealth Management LLC boosted its stake in Cigna Group by 58.6% during the 1st 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 during the period. Richardson Financial Services Inc. acquired a new stake in Cigna Group during the 1st quarter worth $38,000. Wayfinding Financial LLC acquired a new stake in Cigna Group during the 1st quarter worth $40,000. Putney Financial Group LLC acquired a new stake in shares of Cigna Group in the 4th quarter worth $36,000. Finally, Transce3nd LLC acquired a new stake in shares of Cigna Group in the 4th quarter worth $38,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CI has been the subject of several recent analyst reports. Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. 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. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Truist Financial raised their target price on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Guggenheim restated a "buy" rating and issued a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $377.72.

Check Out Our Latest Research Report on Cigna Group

Cigna Group Stock Performance

Shares of CI opened at $275.03 on Monday. 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 stock has a market cap of $73.41 billion, a P/E ratio of 15.01, a PEG ratio of 0.81 and a beta of 0.47. The company has a 50-day moving average of $304.57 and a two-hundred day moving average of $311.72. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83.

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

Cigna Group Dividend Announcement

The company 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 is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group's payout ratio is 32.97%.

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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Institutional Ownership by Quarter for Cigna Group (NYSE:CI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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