TBH Global Asset Management LLC Increases Stake in Cigna Group (NYSE:CI)

TBH Global Asset Management LLC raised its holdings in Cigna Group (NYSE:CI - Free Report) by 27.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,530 shares of the health services provider's stock after buying an additional 2,500 shares during the period. Cigna Group comprises about 0.4% of TBH Global Asset Management LLC's holdings, making the stock its 25th largest position. TBH Global Asset Management LLC's holdings in Cigna Group were worth $3,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Investments LP raised its holdings in Cigna Group by 32.6% during the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after acquiring an additional 188,235 shares during the period. Humankind Investments LLC boosted its stake in 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 purchasing an additional 571 shares during the period. NBC Securities Inc. bought a new stake in shares of Cigna Group during the first quarter valued at about $123,000. First American Trust FSB purchased a new stake in shares of Cigna Group in the fourth quarter worth about $4,471,000. Finally, Factorial Partners LLC boosted its position in shares of Cigna Group by 7.8% in the fourth quarter. Factorial Partners LLC now owns 12,450 shares of the health services provider's stock valued at $3,438,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Stock Performance

NYSE CI traded up $4.76 during trading hours on Tuesday, hitting $335.34. 1,261,484 shares of the company's stock traded hands, compared to its average volume of 1,839,622. 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 52 week low of $262.03 and a 52 week high of $370.83. The firm has a market capitalization of $89.58 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.97 and a beta of 0.44. The business's fifty day moving average price is $320.75 and its two-hundred day moving average price is $308.42.

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 the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the company posted $6.47 earnings per share. Cigna Group's revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.80%. Cigna Group's payout ratio is 33.44%.

Analyst Upgrades and Downgrades

CI has been the topic of several recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Guggenheim reiterated a "buy" rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Mizuho boosted their price objective on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Wall Street Zen raised shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $380.39.

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.