University of Texas Texas AM Investment Management Co. Purchases 1,835 Shares of Cigna Group (NYSE:CI)

Key Points

• The University of Texas Texas AM Investment Management Co. increased its holdings in Cigna Group by 14.1%, resulting in ownership of 14,817 shares valued at $4.875 million.
• Equities analysts have a consensus rating of "Buy" for Cigna Group, with numerous upgrades to target prices, the highest being $405.00.
• Cigna Group declared a quarterly dividend of $1.51 per share, with a yield of 2.04%, to be paid on September 18th.

University of Texas Texas AM Investment Management Co. grew its stake in shares of Cigna Group (NYSE:CI - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,817 shares of the health services provider's stock after buying an additional 1,835 shares during the quarter. Cigna Group accounts for 0.8% of University of Texas Texas AM Investment Management Co.'s investment portfolio, making the stock its 24th biggest position. University of Texas Texas AM Investment Management Co.'s holdings in Cigna Group were worth $4,875,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Putney Financial Group LLC purchased a new position in shares of Cigna Group in the fourth quarter valued at about $36,000. Transce3nd LLC purchased a new position in shares of Cigna Group in the fourth quarter valued at about $38,000. Richardson Financial Services Inc. purchased a new position in shares of Cigna Group in the first quarter valued at about $38,000. Wayfinding Financial LLC purchased a new position in shares of Cigna Group in the first quarter valued at about $40,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Cigna Group in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Stock Performance

CI stock traded down $22.09 during midday trading on Thursday, reaching $275.77. 2,503,281 shares of the company's stock traded hands, compared to its average volume of 1,813,072. Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap of $73.67 billion, a P/E ratio of 15.27, a PEG ratio of 0.88 and a beta of 0.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock's 50-day moving average is $310.91 and its 200 day moving average is $312.18.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The firm had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $6.72 earnings per share. As a group, analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.19%. Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CI shares. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Piper Sandler boosted their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Robert W. Baird dropped their price objective on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen lowered shares of Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Barclays reissued an "overweight" rating and set a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Cigna Group presently has an average rating of "Buy" and a consensus price target 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.