Fifth Third Bancorp Grows Position in The Cigna Group (NYSE:CI)

Fifth Third Bancorp raised its holdings in The Cigna Group (NYSE:CI - Free Report) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,314 shares of the health services provider's stock after buying an additional 874 shares during the period. Fifth Third Bancorp's holdings in The Cigna Group were worth $8,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. TCTC Holdings LLC purchased a new stake in The Cigna Group in the 4th quarter worth about $25,000. Putney Financial Group LLC bought a new stake in The Cigna Group during the 4th quarter worth approximately $36,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the fourth quarter worth about $37,000. Transce3nd LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at $38,000. Finally, Ameriflex Group Inc. purchased a new position in shares of The Cigna Group during the 4th quarter valued at about $44,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CI. Piper Sandler upped their price target on shares of The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Mizuho upped their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Barclays restated an "overweight" rating and issued a $385.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, June 2nd. 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 note on Monday, May 5th. Finally, Wall Street Zen raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two 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.com, The Cigna Group currently has a consensus rating of "Buy" and an average price target of $380.39.

The Cigna Group Stock Performance

NYSE CI traded down $5.36 on Monday, reaching $312.04. 482,885 shares of the stock were exchanged, compared to its average volume of 1,810,075. The company's 50-day simple moving average is $322.31 and its two-hundred day simple moving average is $308.18. 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 Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market capitalization of $83.36 billion, a PE ratio of 25.49, a PEG ratio of 0.98 and a beta of 0.44.

The 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 analysts' consensus estimates of $6.35 by $0.39. The company had revenue of $65.45 billion for 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 Cigna Group's revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.47 earnings per share. Analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is presently 33.44%.

The Cigna Group 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.