LPL Financial LLC Grows Stock Position in Cigna Group (NYSE:CI)

Key Points

• LPL Financial LLC has increased its position in Cigna Group to $68.11 million after acquiring an additional 25,588 shares in the first quarter.
• Cigna Group reported $6.74 earnings per share (EPS) for the recent quarter, exceeding analysts' expectations and showing a 14.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.51 per share, with a current dividend yield of 2.03%.

LPL Financial LLC lifted its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,026 shares of the health services provider's stock after purchasing an additional 25,588 shares during the period. LPL Financial LLC owned 0.08% of Cigna Group worth $68,111,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Putney Financial Group LLC bought a new position in shares of Cigna Group in the fourth quarter valued at approximately $36,000. Transce3nd LLC bought a new stake in Cigna Group in the fourth quarter worth about $38,000. Richardson Financial Services Inc. bought a new stake in shares of Cigna Group in the 1st quarter worth approximately $38,000. Wayfinding Financial LLC bought a new stake in shares of Cigna Group in the first quarter valued at $40,000. Finally, Ameriflex Group Inc. purchased a new stake in Cigna Group in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Trading Down 1.9%

Shares of Cigna Group stock traded down $5.12 on Friday, reaching $262.26. The company had a trading volume of 3,428,214 shares, compared to its average volume of 1,636,711. The firm's 50 day moving average price is $309.98 and its two-hundred day moving average price is $312.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.71. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83. The firm has a market cap of $70.06 billion, a PE ratio of 14.32, a PEG ratio of 0.81 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. Sell-side analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.3%. Cigna Group's payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Cowen restated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. 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. Piper Sandler increased their target price on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $378.67.

Cigna Group Company 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.