Penobscot Investment Management Company Inc. purchased a new stake in shares of Cigna Group (NYSE:CI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 937 shares of the health services provider's stock, valued at approximately $308,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. TCTC Holdings LLC purchased a new stake in Cigna Group during the fourth quarter valued at about $25,000. Putney Financial Group LLC bought a new position in shares of Cigna Group during the 4th quarter valued at about $36,000. Transce3nd LLC purchased a new position in shares of Cigna Group during the 4th quarter valued at about $38,000. Ameriflex Group Inc. bought a new stake in Cigna Group in the 4th quarter worth approximately $44,000. Finally, Heck Capital Advisors LLC purchased a new stake in Cigna Group in the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
Analyst Ratings Changes
CI has been the topic of several research reports. Mizuho lifted their price target on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Robert W. Baird decreased their target price on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Cowen reissued a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research note on Thursday. Finally, Piper Sandler lifted their price objective on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Cigna Group currently has an average rating of "Buy" and an average price target of $380.39.
Check Out Our Latest Research Report on CI
Cigna Group Trading Down 1.0%
Shares of Cigna Group stock traded down $3.32 during midday trading on Friday, reaching $326.68. 3,402,333 shares of the company's stock traded hands, compared to its average volume of 1,722,221. The stock has a 50 day moving average of $320.71 and a 200-day moving average of $307.71. Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a market cap of $87.27 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44. 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 issued its quarterly earnings data 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 net margin of 1.97% and a return on equity of 18.63%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the firm earned $6.47 EPS. The company's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.
Cigna Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.85%. Cigna Group's payout ratio is 33.44%.
About Cigna Group
(
Free Report)
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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