Running Oak Capital LLC Increases Position in Cigna Group (NYSE:CI)

Running Oak Capital LLC increased its stake in shares of Cigna Group (NYSE:CI - Free Report) by 26.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,649 shares of the health services provider's stock after acquiring an additional 10,040 shares during the period. Cigna Group comprises approximately 1.9% of Running Oak Capital LLC's investment portfolio, making the stock its 15th largest holding. Running Oak Capital LLC's holdings in Cigna Group were worth $16,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mission Wealth Management LP raised its position in Cigna Group by 1.5% during the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock worth $691,000 after purchasing an additional 32 shares during the last quarter. Moody National Bank Trust Division raised its position in Cigna Group by 0.7% during the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock worth $1,509,000 after purchasing an additional 34 shares during the last quarter. Kesler Norman & Wride LLC raised its position in Cigna Group by 1.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock worth $562,000 after purchasing an additional 35 shares during the last quarter. Wynn Capital LLC raised its position in Cigna Group by 1.0% during the 1st quarter. Wynn Capital LLC now owns 3,451 shares of the health services provider's stock worth $1,135,000 after purchasing an additional 35 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. grew its holdings in Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock worth $520,000 after acquiring an additional 36 shares during the period. Institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CI shares. Barclays reiterated an "overweight" rating and set a $385.00 price target (up from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Tuesday, June 3rd. Morgan Stanley increased their price target on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Piper Sandler raised their target price on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Mizuho raised their target price on Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cigna Group currently has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Stock Up 0.8%

CI stock traded up $2.65 during mid-day trading on Monday, reaching $317.00. 1,248,081 shares of the company traded hands, compared to its average volume of 1,710,776. The stock has a market cap of $84.68 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 0.93 and a beta of 0.44. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm's 50 day moving average price is $321.48 and its 200 day moving average price is $307.53.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly 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. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.47 EPS. As a group, equities research analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. Cigna Group's 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.