Gateway Investment Advisers LLC Raises Stock Position in The Cigna Group (NYSE:CI)

Gateway Investment Advisers LLC boosted its stake in The Cigna Group (NYSE:CI) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,140 shares of the health services provider’s stock after purchasing an additional 360 shares during the period. Gateway Investment Advisers LLC’s holdings in The Cigna Group were worth $6,626,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its position in The Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock valued at $1,509,000 after purchasing an additional 34 shares in the last quarter. Kesler Norman & Wride LLC raised its stake in shares of The Cigna Group by 1.8% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after buying an additional 35 shares during the period. Hudson Edge Investment Partners Inc. raised its stake in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after buying an additional 36 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in shares of The Cigna Group by 2.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider’s stock valued at $535,000 after buying an additional 36 shares in the last quarter. Finally, Meridian Wealth Management LLC grew its stake in shares of The Cigna Group by 1.0% during the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after acquiring an additional 37 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the business’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 transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by insiders.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $311.68 on Friday. The firm has a market cap of $83.26 billion, a PE ratio of 25.46, a PEG ratio of 0.98 and a beta of 0.44. The stock has a 50 day moving average of $323.39 and a 200 day moving average of $309.05. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the prior year, the firm earned $6.47 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on CI. Robert W. Baird decreased their target price on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Truist Financial increased their price objective on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Wall Street Zen upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Morgan Stanley upped their target price on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, Barclays reiterated an “overweight” rating and issued a $385.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $380.39.

The 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.