Valley Wealth Managers Inc. Purchases 6,218 Shares of Cigna Group (NYSE:CI)

Key Points

• Valley Wealth Managers Inc. increased its holdings in Cigna Group by 10.9%, acquiring an additional 6,218 shares during the first quarter, bringing its total ownership to 63,151 shares valued at approximately $20.77 million.
• Cigna Group reported $6.74 EPS for the latest quarter, exceeding estimates, with revenues reaching $65.45 billion, up 14.4% year-over-year.
• The company declared a quarterly dividend of $1.51 to be paid on September 18, representing a 2.04% yield based on an annual payout of $6.04.

Valley Wealth Managers Inc. increased its position in shares of Cigna Group (NYSE:CI - Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,151 shares of the health services provider's stock after acquiring an additional 6,218 shares during the period. Cigna Group makes up about 1.6% of Valley Wealth Managers Inc.'s holdings, making the stock its 25th biggest position. Valley Wealth Managers Inc.'s holdings in Cigna Group were worth $20,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Norges Bank bought a new stake in Cigna Group during the fourth quarter valued at approximately $867,785,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Cigna Group in the 4th quarter worth $724,517,000. GAMMA Investing LLC raised its position in shares of Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after buying an additional 1,771,613 shares in the last quarter. Two Sigma Advisers LP grew its position in Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock worth $225,385,000 after acquiring an additional 600,300 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its position in Cigna Group by 400.9% in the fourth quarter. Voloridge Investment Management LLC now owns 643,253 shares of the health services provider's stock worth $177,628,000 after acquiring an additional 514,841 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Cigna Group Stock Performance

Cigna Group stock opened at $296.36 on Friday. 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 firm has a market cap of $79.17 billion, a P/E ratio of 16.41, a P/E/G ratio of 0.89 and a beta of 0.44. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a 50-day moving average of $312.53 and a 200-day moving average of $311.87.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business's revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $6.47 EPS. Sell-side analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CI. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Robert W. Baird decreased their price objective on Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Mizuho boosted their target price on Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Morgan Stanley upped their target price on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Guggenheim reissued a "buy" rating and set a $388.00 price target on shares of Cigna Group in a research note on Friday, May 23rd. Two equities 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. Based on data from MarketBeat.com, Cigna Group 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.

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