OneAscent Financial Services LLC Acquires 1,880 Shares of Cigna Group (NYSE:CI)

OneAscent Financial Services LLC boosted its holdings in Cigna Group (NYSE:CI - Free Report) by 102.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,712 shares of the health services provider's stock after purchasing an additional 1,880 shares during the quarter. OneAscent Financial Services LLC's holdings in Cigna Group were worth $1,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CI. Brighton Jones LLC increased its holdings in shares of Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after acquiring an additional 318 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Cigna Group by 24.5% during the fourth quarter. Proficio Capital Partners LLC now owns 864 shares of the health services provider's stock valued at $239,000 after buying an additional 170 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Cigna Group during the fourth quarter valued at approximately $118,000. Mizuho Securities USA LLC boosted its position in shares of Cigna Group by 45.4% during the fourth quarter. Mizuho Securities USA LLC now owns 26,363 shares of the health services provider's stock valued at $7,280,000 after buying an additional 8,236 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Cigna Group by 4.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 2,390 shares of the health services provider's stock valued at $660,000 after buying an additional 100 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial lifted their target price on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Barclays reaffirmed an "overweight" rating and set a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Morgan Stanley lifted their target price on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Mizuho boosted their price objective on Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Piper Sandler boosted their price objective on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $380.39.

Cigna Group Price Performance

CI opened at $295.27 on Monday. The stock has a 50-day moving average price of $313.74 and a 200-day moving average price of $311.69. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $78.88 billion, a P/E ratio of 16.35, a PEG ratio of 0.88 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the prior year, the business earned $6.47 EPS. The company's revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

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

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.

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