NorthCrest Asset Manangement LLC Acquires 1,446 Shares of The Cigna Group (NYSE:CI)

NorthCrest Asset Manangement LLC lifted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 14.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,327 shares of the health services provider's stock after acquiring an additional 1,446 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in The Cigna Group were worth $3,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Thomasville National Bank purchased a new position in shares of The Cigna Group during the 1st quarter worth approximately $201,000. Ferguson Wellman Capital Management Inc. boosted its position in shares of The Cigna Group by 18.7% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,385 shares of the health services provider's stock valued at $785,000 after purchasing an additional 376 shares in the last quarter. Net Worth Advisory Group grew its stake in The Cigna Group by 5.4% in the first quarter. Net Worth Advisory Group now owns 3,456 shares of the health services provider's stock worth $1,137,000 after purchasing an additional 176 shares during the period. Fifth Third Bancorp raised its holdings in The Cigna Group by 3.4% in the first quarter. Fifth Third Bancorp now owns 26,314 shares of the health services provider's stock worth $8,657,000 after purchasing an additional 874 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its position in The Cigna Group by 107.4% during the first quarter. Simon Quick Advisors LLC now owns 3,149 shares of the health services provider's stock valued at $1,036,000 after buying an additional 1,631 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CI. Barclays reaffirmed an "overweight" rating and issued a $385.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, June 2nd. Piper Sandler upped their price objective on shares of The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Cowen reiterated a "buy" rating on shares of The Cigna Group in a report on Monday, May 5th. Morgan Stanley boosted their price target on The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Robert W. Baird reduced their price objective on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $380.39.

The Cigna Group Stock Performance

Shares of CI traded up $1.66 during mid-day trading on Friday, hitting $317.03. 1,866,266 shares of the company traded hands, compared to its average volume of 1,714,899. The stock has a market cap of $84.69 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 0.98 and a beta of 0.44. The stock has a 50-day moving average price of $322.31 and a two-hundred day moving average price of $308.57. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 (NYSE:CI - Get Free Report) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping 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. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm's revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.47 EPS. Equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group's payout ratio is 33.44%.

The 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.