Natixis Advisors LLC Acquires 27,716 Shares of Cigna Group (NYSE:CI)

Key Points

• Natixis Advisors LLC has increased its stake in Cigna Group by 7.7%, owning approximately $126.88 million worth of shares after acquiring an additional 27,716 shares in the first quarter.
• Cigna Group reported a quarterly earnings per share of $6.74, exceeding analysts' expectations by $0.39, with a revenue of $65.45 billion for the quarter.
• The company declared a quarterly dividend of $1.51 per share, resulting in an annualized dividend of $6.04 and a dividend yield of 2.07%.

Natixis Advisors LLC raised its stake in shares of Cigna Group (NYSE:CI - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 385,667 shares of the health services provider's stock after purchasing an additional 27,716 shares during the quarter. Natixis Advisors LLC owned 0.14% of Cigna Group worth $126,884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CI. NorthRock Partners LLC raised its stake in shares of Cigna Group by 2.6% in the first quarter. NorthRock Partners LLC now owns 3,790 shares of the health services provider's stock valued at $1,247,000 after acquiring an additional 95 shares during the last quarter. Seizert Capital Partners LLC raised its stake in shares of Cigna Group by 11.4% in the first quarter. Seizert Capital Partners LLC now owns 150,971 shares of the health services provider's stock valued at $49,669,000 after acquiring an additional 15,504 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of Cigna Group in the first quarter valued at approximately $236,000. Arkadios Wealth Advisors raised its stake in shares of Cigna Group by 126.7% in the first quarter. Arkadios Wealth Advisors now owns 9,138 shares of the health services provider's stock valued at $3,006,000 after acquiring an additional 5,107 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Cigna Group in the first quarter valued at approximately $1,353,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Trading Down 1.9%

Shares of CI stock traded down $5.12 on Friday, hitting $262.26. The stock had a trading volume of 3,428,214 shares, compared to its average volume of 1,636,711. The firm has a market cap of $70.06 billion, a P/E ratio of 14.32, a PEG ratio of 0.81 and a beta of 0.47. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The company has a fifty day moving average price of $309.98 and a two-hundred day moving average price of $312.08.

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 for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $6.72 EPS. As a group, analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.3%. Cigna Group's dividend payout ratio is presently 33.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Cowen restated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Truist Financial boosted their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Mizuho boosted their price objective on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Guggenheim restated a "buy" rating and issued a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Cigna Group has an average rating of "Buy" and a consensus target price of $378.67.

About Cigna Group

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.