Sonora Investment Management Group LLC bought a new stake in The Cigna Group (NYSE:CI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 814 shares of the health services provider's stock, valued at approximately $268,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $867,785,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $724,517,000. GAMMA Investing LLC grew its position in shares of The Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after purchasing an additional 1,771,613 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $313,911,000. Finally, GQG Partners LLC lifted its holdings in shares of The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on CI shares. Robert W. Baird cut their price target on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Piper Sandler raised their price target on shares of The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Morgan Stanley increased their price objective on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald raised their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $380.39.
Read Our Latest Stock Analysis on The Cigna Group
The Cigna Group Stock Performance
CI stock traded up $1.66 during mid-day trading on Friday, hitting $317.03. The company had a trading volume of 1,866,266 shares, compared to its average volume of 1,718,142. The firm has a market cap of $84.69 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. 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 Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock's fifty day moving average price is $322.31 and its two-hundred day moving average price is $308.57.
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 for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company's revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $6.47 earnings per share. On average, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors 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 1.91%. The Cigna Group's dividend payout ratio is currently 33.44%.
The Cigna Group Company Profile
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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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