Victory Capital Management Inc. Has $247.06 Million Position in Cigna Group (NYSE:CI)

Victory Capital Management Inc. increased its position in shares of Cigna Group (NYSE:CI - Free Report) by 38.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 750,948 shares of the health services provider's stock after acquiring an additional 206,680 shares during the period. Victory Capital Management Inc. owned about 0.27% of Cigna Group worth $247,062,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in Cigna Group by 0.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock worth $3,834,493,000 after purchasing an additional 98,715 shares during the last quarter. Sanders Capital LLC lifted its stake in shares of Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock worth $2,224,296,000 after purchasing an additional 154,420 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock worth $1,640,878,000 after acquiring an additional 101,737 shares in the last quarter. GQG Partners LLC lifted its stake in shares of Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after acquiring an additional 737,099 shares in the last quarter. Finally, Norges Bank acquired a new stake in Cigna Group during the fourth quarter valued at approximately $867,785,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Trading Down 1.3%

Shares of Cigna Group stock traded down $4.03 on Friday, reaching $294.25. 802,974 shares of the company were exchanged, compared to its average volume of 1,736,315. The firm has a market capitalization of $78.61 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. 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 has a fifty day moving average price of $314.51 and a 200-day moving average price of $311.06.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share 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 firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the prior year, the company earned $6.47 EPS. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. On average, analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 2.05%. Cigna Group's dividend payout ratio is currently 33.44%.

Analysts Set New Price Targets

CI has been the subject of a number of analyst reports. Wall Street Zen upgraded Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Piper Sandler raised their price target on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Barclays restated an "overweight" rating and set a $385.00 price target (up previously from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Mizuho lifted their target price on shares of Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Truist Financial raised their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $380.39.

About Cigna Group

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.