Yousif Capital Management LLC Grows Position in The Cigna Group (NYSE:CI)

Yousif Capital Management LLC raised its holdings in shares of The Cigna Group (NYSE:CI) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,808 shares of the health services provider’s stock after buying an additional 129 shares during the quarter. Yousif Capital Management LLC’s holdings in The Cigna Group were worth $16,058,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth $25,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter worth $32,000. Putney Financial Group LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth $36,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the 4th quarter worth $37,000. Finally, Transce3nd LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $311.33 on Tuesday. The stock has a 50-day simple moving average of $322.97 and a 200-day simple moving average of $308.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a market capitalization of $83.17 billion, a PE ratio of 25.44, a PEG ratio of 0.98 and a beta of 0.44. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating 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. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.47 EPS. On average, analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s payout ratio is presently 33.44%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Robert W. Baird cut their target price on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Barclays reaffirmed an “overweight” rating and issued a $385.00 target price (up from $382.00) on shares of The Cigna Group in a research note on Monday, June 2nd. Cowen reissued a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Morgan Stanley raised their price objective on The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, Piper Sandler raised their price objective on The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $380.39.

Insider Activity

In related news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

The 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.