Oak Thistle LLC Purchases 2,821 Shares of Cigna Group (NYSE:CI)

Oak Thistle LLC boosted its holdings in Cigna Group (NYSE:CI - Free Report) by 75.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,546 shares of the health services provider's stock after purchasing an additional 2,821 shares during the quarter. Oak Thistle LLC's holdings in Cigna Group were worth $2,154,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CI. Putney Financial Group LLC acquired a new position in Cigna Group in the fourth quarter worth $36,000. Transce3nd LLC acquired a new position in Cigna Group in the fourth quarter worth $38,000. Wayfinding Financial LLC bought a new stake in Cigna Group in the first quarter valued at $40,000. Ameriflex Group Inc. bought a new stake in Cigna Group in the fourth quarter valued at $44,000. Finally, Heck Capital Advisors LLC bought a new stake in Cigna Group in the fourth quarter valued at $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Trading Up 0.8%

CI traded up $2.43 during trading on Friday, reaching $296.36. The company had a trading volume of 1,325,160 shares, compared to its average volume of 1,804,703. The firm's 50-day simple moving average is $313.02 and its 200 day simple moving average is $311.76. The company has a market cap of $79.17 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.92 and a beta of 0.44. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72.

Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the prior year, the company earned $6.47 earnings per share. The company's revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.04%. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CI. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Barclays reiterated 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. Wall Street Zen cut Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cigna Group currently has an average rating of "Buy" and a consensus target price of $380.39.

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.