Sagespring Wealth Partners LLC Grows Stake in The Cigna Group (NYSE:CI)

Sagespring Wealth Partners LLC lifted its position in The Cigna Group (NYSE:CI - Free Report) by 31.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,176 shares of the health services provider's stock after buying an additional 1,002 shares during the period. Sagespring Wealth Partners LLC's holdings in The Cigna Group were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in The Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after purchasing an additional 318 shares during the period. Principal Securities Inc. raised its holdings in The Cigna Group by 16.4% in the 4th quarter. Principal Securities Inc. now owns 9,096 shares of the health services provider's stock worth $2,512,000 after purchasing an additional 1,281 shares during the period. Allworth Financial LP raised its holdings in The Cigna Group by 5.2% in the 4th quarter. Allworth Financial LP now owns 6,097 shares of the health services provider's stock worth $1,762,000 after purchasing an additional 303 shares during the period. Sierra Ocean LLC bought a new position in The Cigna Group in the 4th quarter worth $63,000. Finally, Financiere des Professionnels Fonds d investissement inc. raised its holdings in The Cigna Group by 3.2% in the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 32,272 shares of the health services provider's stock worth $8,912,000 after purchasing an additional 1,008 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 1.0%

Shares of CI stock opened at $314.30 on Tuesday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average price is $322.34 and its 200-day moving average price is $308.02. The stock has a market capitalization of $83.96 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44.

The 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 for the quarter, topping the consensus estimate 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 company had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the previous year, the firm posted $6.47 earnings per share. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.92%. The Cigna Group's payout ratio is currently 33.44%.

Analyst Ratings Changes

A number of equities analysts recently commented on CI shares. Truist Financial raised their target price on The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Robert W. Baird decreased their target price on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Wall Street Zen raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Cowen reissued a "buy" rating on shares of The Cigna Group in a report on Monday, May 5th. Finally, Barclays reissued an "overweight" rating and set a $385.00 price target (up from $382.00) on shares of The Cigna Group in a report on Monday, June 2nd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $380.39.

About The Cigna Group

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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