Park Avenue Securities LLC Acquires 2,095 Shares of The Cigna Group (NYSE:CI)

Park Avenue Securities LLC lifted its holdings in The Cigna Group (NYSE:CI - Free Report) by 19.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,718 shares of the health services provider's stock after buying an additional 2,095 shares during the quarter. Park Avenue Securities LLC's holdings in The Cigna Group were worth $4,184,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CI. Brighton Jones LLC raised its holdings in shares of The Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after buying an additional 318 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in The Cigna Group in the fourth quarter worth about $78,000. Appleton Partners Inc. MA acquired a new stake in The Cigna Group in the fourth quarter worth about $443,000. BLB&B Advisors LLC increased its position in The Cigna Group by 2.1% in the fourth quarter. BLB&B Advisors LLC now owns 2,292 shares of the health services provider's stock worth $633,000 after purchasing an additional 47 shares during the period. Finally, Apollon Wealth Management LLC increased its position in The Cigna Group by 5.2% in the fourth quarter. Apollon Wealth Management LLC now owns 9,383 shares of the health services provider's stock worth $2,591,000 after purchasing an additional 468 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Robert W. Baird lowered their price objective on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Guggenheim reiterated a "buy" rating and issued a $388.00 price objective on shares of The Cigna Group in a research report on Friday, May 23rd. Piper Sandler lifted their price objective on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Mizuho lifted their price objective on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Morgan Stanley lifted their price objective on The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $380.39.

The Cigna Group Price Performance

NYSE CI opened at $311.68 on Monday. The business has a 50 day simple moving average of $323.39 and a 200 day simple moving average of $308.90. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a market cap of $83.26 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results 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. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business 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 Cigna Group's revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is 33.44%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company's stock.

The 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.

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