Cigna Group (NYSE:CI) Shares Bought by World Investment Advisors

World Investment Advisors raised its stake in Cigna Group (NYSE:CI - Free Report) by 39.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,866 shares of the health services provider's stock after buying an additional 1,371 shares during the quarter. World Investment Advisors' holdings in Cigna Group were worth $1,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in Cigna Group during the 4th quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in shares of Cigna Group during the 4th quarter worth approximately $36,000. Transce3nd LLC purchased a new stake in Cigna Group during the 4th quarter valued at about $38,000. Wayfinding Financial LLC bought a new position in shares of Cigna Group in the 1st quarter worth approximately $40,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Cigna Group in the fourth quarter valued at $44,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CI shares. Truist Financial upped their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. TD Cowen raised Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Robert W. Baird lowered their target price on Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Finally, Cantor Fitzgerald boosted their price target on shares of Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cigna Group currently has a consensus rating of "Buy" and a consensus target price of $380.39.

Cigna Group Stock Down 1.3%

Cigna Group stock traded down $4.04 on Wednesday, hitting $307.96. 109,006 shares of the stock traded hands, compared to its average volume of 1,735,290. Cigna Group has a 1 year low of $262.03 and a 1 year 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 business's fifty day simple moving average is $318.80 and its 200 day simple moving average is $310.08. The firm has a market cap of $82.27 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44.

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. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the company posted $6.47 EPS. The business's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.96%. Cigna Group's payout ratio is 33.44%.

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.