Cigna Group (NYSE:CI) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Cigna Group (NYSE:CI - Free Report) by 380.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 121,270 shares of the health services provider's stock after purchasing an additional 96,042 shares during the quarter. Los Angeles Capital Management LLC's holdings in Cigna Group were worth $39,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its position in Cigna Group by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock valued at $3,834,493,000 after purchasing an additional 98,715 shares during the last quarter. Sanders Capital LLC increased its stake in shares of Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after buying an additional 154,420 shares during the period. Geode Capital Management LLC increased its stake in shares of Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after buying an additional 101,737 shares during the period. GQG Partners LLC increased its stake in shares of Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after buying an additional 737,099 shares during the period. Finally, Norges Bank purchased a new position in shares of Cigna Group during the fourth quarter valued at approximately $867,785,000. Institutional investors own 86.99% of the company's stock.

Cigna Group Price Performance

Shares of NYSE:CI traded down $3.01 during trading on Friday, hitting $295.27. 2,071,564 shares of the company's stock were exchanged, compared to its average volume of 1,746,292. 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 has a 52-week low of $262.03 and a 52-week high of $370.83. The business's 50-day simple moving average is $313.74 and its 200 day simple moving average is $311.44. The company has a market cap of $78.88 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.88 and a beta of 0.44.

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. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.47 EPS. As a group, equities analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is 33.44%.

Analyst Ratings Changes

CI has been the topic of several recent research reports. TD Cowen raised Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Barclays reissued an "overweight" rating and issued a $385.00 target price (up from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Piper Sandler increased their target price on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Wall Street Zen cut Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Friday. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $380.39.

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.