Wakefield Asset Management LLLP Acquires New Holdings in Cigna Group (NYSE:CI)

Wakefield Asset Management LLLP acquired a new position in Cigna Group (NYSE:CI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,536 shares of the health services provider's stock, valued at approximately $505,000.

A number of other institutional investors have also made changes to their positions in CI. Putney Financial Group LLC acquired a new position in shares of Cigna Group in the fourth quarter valued at $36,000. Transce3nd LLC acquired a new position in shares of Cigna Group in the fourth quarter valued at $38,000. Richardson Financial Services Inc. acquired a new position in shares of Cigna Group in the first quarter valued at $38,000. Wayfinding Financial LLC acquired a new stake in Cigna Group during the 1st quarter worth approximately $40,000. Finally, Ameriflex Group Inc. acquired a new stake in Cigna Group during the 4th quarter worth approximately $44,000. Institutional investors own 86.99% of the company's stock.

Cigna Group Price Performance

Shares of CI traded down $10.67 during mid-day trading on Thursday, reaching $293.67. The company had a trading volume of 1,651,858 shares, compared to its average volume of 1,764,933. The company's 50 day simple moving average is $313.02 and its 200 day simple moving average is $311.76. 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 0.65, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $78.45 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 0.92 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period last year, the company posted $6.47 EPS. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. 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. Stockholders of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.06%. Cigna Group's payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

CI has been the subject of several research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Robert W. Baird decreased their price target 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. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Morgan Stanley upped their price target on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Truist Financial upped their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $380.39.

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.