Cigna Group (NYSE:CI) Shares Purchased by PDS Planning Inc

PDS Planning Inc boosted its position in Cigna Group (NYSE:CI) by 10.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,021 shares of the health services provider’s stock after acquiring an additional 197 shares during the quarter. PDS Planning Inc’s holdings in Cigna Group were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new position in Cigna Group in the fourth quarter valued at $25,000. Putney Financial Group LLC acquired a new position in Cigna Group in the fourth quarter valued at $36,000. Transce3nd LLC acquired a new position in Cigna Group in the fourth quarter valued at $38,000. Ameriflex Group Inc. acquired a new position in Cigna Group in the fourth quarter valued at $44,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Cigna Group during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Up 4.0%

Shares of NYSE CI opened at $328.66 on Friday. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market cap of $87.80 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 0.94 and a beta of 0.44. 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 stock’s 50-day simple moving average is $320.71 and its 200-day simple moving average is $307.71.

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

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s dividend payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CI shares. Robert W. Baird reduced their price objective on Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Barclays restated an “overweight” rating and set a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Morgan Stanley boosted their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Truist Financial boosted their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Finally, Mizuho boosted their price objective on Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Cigna Group presently has a consensus rating of “Buy” and an average target price of $380.39.

About Cigna Group

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.