OneAscent Family Office LLC Buys 1,045 Shares of Cigna Group (NYSE:CI)

OneAscent Family Office LLC lifted its stake in shares of Cigna Group (NYSE:CI - Free Report) by 107.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,014 shares of the health services provider's stock after purchasing an additional 1,045 shares during the quarter. OneAscent Family Office LLC's holdings in Cigna Group were worth $662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Cigna Group in the 4th quarter worth approximately $867,785,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Cigna Group in the 4th quarter worth approximately $724,517,000. GAMMA Investing LLC boosted its position in shares of Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after purchasing an additional 1,771,613 shares in the last quarter. GQG Partners LLC boosted its position 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 purchasing an additional 737,099 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Cigna Group by 278.0% during the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock valued at $225,385,000 after purchasing an additional 600,300 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Stock Performance

Shares of NYSE CI opened at $295.27 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average price is $313.74 and its two-hundred day moving average price is $311.44. Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market capitalization of $78.88 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.88 and a beta of 0.44.

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

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's payout ratio is presently 33.44%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial boosted their price target on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Barclays reiterated an "overweight" rating and set a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Cigna Group 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.

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