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National Pension Service Grows Stake in Cigna Group (NYSE:CI)

Cigna Group logo with Medical background

Key Points

  • The National Pension Service has increased its holdings in Cigna Group (NYSE:CI) by 6.2%, now owning over 667,860 shares valued at $219.7 million.
  • Analysts have set a consensus price target of $377.72 for Cigna Group, with ratings varying from "hold" to "strong buy" across several financial institutions.
  • Cigna Group reported a quarterly earnings per share of $7.20, exceeding expectations, with revenues of $67.13 billion, a significant increase from the previous year.
  • Need better tools to track Cigna Group? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

National Pension Service boosted its position in shares of Cigna Group (NYSE:CI - Free Report) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 667,860 shares of the health services provider's stock after acquiring an additional 38,993 shares during the quarter. National Pension Service owned 0.25% of Cigna Group worth $219,726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. Brighton Jones LLC increased its holdings in shares of Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after purchasing an additional 318 shares during the last quarter. Advisors Capital Management LLC increased its holdings in shares of Cigna Group by 18.9% in the fourth quarter. Advisors Capital Management LLC now owns 1,737 shares of the health services provider's stock valued at $480,000 after purchasing an additional 276 shares during the last quarter. Mariner LLC grew its stake in shares of Cigna Group by 12.9% in the fourth quarter. Mariner LLC now owns 50,728 shares of the health services provider's stock valued at $14,008,000 after acquiring an additional 5,808 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of Cigna Group by 30.7% in the fourth quarter. Belpointe Asset Management LLC now owns 2,237 shares of the health services provider's stock valued at $618,000 after acquiring an additional 526 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Cigna Group in the fourth quarter valued at about $1,289,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the topic of several research reports. Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Barclays decreased their price target on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Truist Financial upped their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Piper Sandler upped their price target on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Three equities research 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. Based on data from MarketBeat, Cigna Group has an average rating of "Moderate Buy" and a consensus price target of $378.33.

View Our Latest Research Report on Cigna Group

Cigna Group Stock Up 2.3%

CI stock traded up $6.67 during midday trading on Friday, hitting $297.02. The stock had a trading volume of 2,918,002 shares, compared to its average volume of 1,861,166. The firm has a market cap of $79.28 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 0.84 and a beta of 0.47. The business has a 50-day moving average of $302.33 and a two-hundred day moving average of $311.11. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

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

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio is presently 32.97%.

Cigna Group Company Profile

(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.

Further Reading

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

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