SPC Financial Inc. Acquires 2,003 Shares of Cigna Group (NYSE:CI)

Key Points

• SPC Financial Inc. increased its holdings in Cigna Group by 70.8%, now owning 4,834 shares valued at approximately $1.59 million.
• Analysts have mixed views on Cigna Group, with three analysts rating it as "hold" and sixteen providing a "buy" rating, alongside a consensus target price of $378.67.
• Cigna Group reported $7.20 EPS in its latest quarterly earnings, surpassing analysts' expectations, and experienced an 11.0% year-over-year revenue growth totaling $67.13 billion.

SPC Financial Inc. raised its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 70.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,834 shares of the health services provider's stock after purchasing an additional 2,003 shares during the period. SPC Financial Inc.'s holdings in Cigna Group were worth $1,590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CI. Two Sigma Investments LP lifted its holdings in Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after purchasing an additional 188,235 shares during the period. Humankind Investments LLC lifted its stake in shares of Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after acquiring an additional 571 shares during the period. NBC Securities Inc. bought a new position in shares of Cigna Group in the first quarter valued at approximately $123,000. SBI Securities Co. Ltd. lifted its position in Cigna Group by 18.8% in the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock worth $131,000 after purchasing an additional 63 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Cigna Group by 79.0% during the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider's stock valued at $1,775,000 after purchasing an additional 2,381 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Up 1.9%

Shares of NYSE:CI traded up $5.03 during trading on Monday, hitting $267.26. 2,498,214 shares of the company's stock traded hands, compared to its average volume of 1,808,167. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $308.90 and a 200-day moving average price of $312.33. The company has a market cap of $71.34 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.79 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.72 earnings per share. As a group, research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.3%. Cigna Group's dividend payout ratio (DPR) is currently 32.97%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CI shares. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Wall Street Zen lowered shares of Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday. Truist Financial increased their target price on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Guggenheim reduced their price target on Cigna Group from $388.00 to $350.00 and set a "buy" rating for the company in a research report on Monday. Finally, Piper Sandler increased their price objective on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Cigna Group presently has a consensus rating of "Moderate Buy" and an average price target of $376.56.

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.