Wealth Effects LLC Acquires Shares of 689 Cigna Group (NYSE:CI)

Wealth Effects LLC bought a new position in Cigna Group (NYSE:CI) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 689 shares of the health services provider’s stock, valued at approximately $227,000.

Several other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC lifted its position in Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after buying an additional 318 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in shares of Cigna Group by 7.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 1,672 shares of the health services provider’s stock worth $462,000 after acquiring an additional 119 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in shares of Cigna Group by 2.1% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 2,387 shares of the health services provider’s stock worth $659,000 after acquiring an additional 50 shares during the last quarter. National Pension Service boosted its stake in shares of Cigna Group by 1.6% during the 4th quarter. National Pension Service now owns 628,867 shares of the health services provider’s stock worth $173,655,000 after purchasing an additional 9,750 shares during the period. Finally, Impact Investors Inc bought a new position in Cigna Group during the 4th quarter valued at about $537,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Cigna Group Price Performance

Shares of CI opened at $315.51 on Thursday. 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 50 day moving average price of $320.73 and a 200-day moving average price of $307.64. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a market capitalization of $84.29 billion, a PE ratio of 17.47, a PEG ratio of 0.94 and a beta of 0.44.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. Cigna Group’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.47 earnings per share. Equities analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s dividend payout ratio (DPR) is currently 33.44%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent 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. Barclays restated an “overweight” rating and set a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Truist Financial upped their price objective on Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Cowen reiterated a “buy” rating on shares of Cigna Group in a research report on Monday, May 5th. Finally, Mizuho upped their price target on shares of Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price 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.