OneAscent Investment Solutions LLC Purchases Shares of 1,033 Cigna Group (NYSE:CI)

Key Points

• OneAscent Investment Solutions LLC acquired 1,033 shares of Cigna Group, valued at approximately $340,000, in the first quarter.
• Cigna Group reported **earnings per share** of $7.20 for the last quarter, exceeding analyst expectations of $7.15, with a **12-month revenue growth** of 11.0% year-over-year.
• The firm announced a **quarterly dividend of $1.51**, translating to an annualized yield of 2.1%, with a payout ratio of 32.97%.

OneAscent Investment Solutions LLC acquired a new position in shares of Cigna Group (NYSE:CI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 1,033 shares of the health services provider's stock, valued at approximately $340,000.

Several other institutional investors have also modified their holdings of CI. Two Sigma Investments LP raised its stake in Cigna Group by 32.6% during the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after acquiring an additional 188,235 shares in the last quarter. Humankind Investments LLC raised its stake in Cigna Group by 12.1% during the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after acquiring an additional 571 shares in the last quarter. NBC Securities Inc. acquired a new stake in Cigna Group during the 1st quarter worth $123,000. SBI Securities Co. Ltd. raised its stake in Cigna Group by 18.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock worth $131,000 after acquiring an additional 63 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Cigna Group by 2.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 113,584 shares of the health services provider's stock worth $37,369,000 after acquiring an additional 2,614 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CI. Piper Sandler lifted their price target on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a "buy" rating in a research note on Tuesday, August 5th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Morgan Stanley upped their target price on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $350.00 target price (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $378.33.

Cigna Group Stock Performance

Shares of Cigna Group stock traded up $6.67 on Friday, reaching $297.02. 2,918,002 shares of the stock were exchanged, compared to its average volume of 2,115,989. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average price of $302.03 and a two-hundred day moving average price of $311.13. The firm has a market capitalization of $79.28 billion, a PE ratio of 16.21, a PEG ratio of 0.87 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last issued its 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. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same period in the prior year, the business posted $6.72 earnings per share. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate 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 will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio is presently 32.97%.

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.