Private Advisor Group LLC Acquires 1,650 Shares of Cigna Group (NYSE:CI)

Private Advisor Group LLC increased its position in shares of Cigna Group (NYSE:CI - Free Report) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,645 shares of the health services provider's stock after purchasing an additional 1,650 shares during the quarter. Private Advisor Group LLC's holdings in Cigna Group were worth $5,147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CI. Putney Financial Group LLC purchased a new position in shares of Cigna Group during the fourth quarter worth about $36,000. Transce3nd LLC bought a new position in shares of Cigna Group during the 4th quarter valued at $38,000. Wayfinding Financial LLC bought a new position in shares of Cigna Group during the 1st quarter worth about $40,000. Ameriflex Group Inc. bought a new position in shares of Cigna Group in the fourth quarter worth about $44,000. Finally, Heck Capital Advisors LLC bought a new stake in Cigna Group in the fourth quarter valued at approximately $53,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CI has been the subject of several recent research reports. Guggenheim reissued a "buy" rating and set a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Robert W. Baird cut their price objective on Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Barclays reissued an "overweight" rating and set a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. 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 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 stock. According to MarketBeat, Cigna Group currently has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Price Performance

Shares of CI stock opened at $294.60 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a fifty day simple moving average of $313.74 and a 200-day simple moving average of $311.69. The company has a market capitalization of $78.70 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last released its earnings results 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 company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the company posted $6.47 EPS. The company's revenue was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis 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%.

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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