Clarius Group LLC Purchases 1,446 Shares of Cigna Group (NYSE:CI)

Clarius Group LLC increased its position in shares of Cigna Group (NYSE:CI) by 59.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,859 shares of the health services provider’s stock after purchasing an additional 1,446 shares during the quarter. Clarius Group LLC’s holdings in Cigna Group were worth $1,270,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of Cigna Group during the fourth quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of Cigna Group in the 4th quarter worth approximately $36,000. Transce3nd LLC bought a new stake in Cigna Group during the 4th quarter worth approximately $38,000. Ameriflex Group Inc. bought a new stake in Cigna Group during the 4th quarter worth approximately $44,000. Finally, Heck Capital Advisors LLC acquired a new stake in Cigna Group during the 4th quarter valued at $53,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CI. 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. Guggenheim reaffirmed a “buy” rating and issued a $388.00 price target on shares of Cigna Group in a report on Friday, May 23rd. Barclays reiterated an “overweight” rating and set a $385.00 price target (up previously from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Cantor Fitzgerald raised their price objective on shares of Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Finally, Cowen reaffirmed a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Two investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $380.39.

Cigna Group Trading Down 0.7%

CI opened at $312.32 on Wednesday. The firm has a 50 day simple moving average of $322.18 and a 200 day simple moving average of $308.05. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a market cap of $83.43 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72.

Cigna Group (NYSE:CI) last released its earnings results 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 firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.47 EPS. On average, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Tuesday, June 3rd. Cigna Group’s dividend payout ratio (DPR) is currently 33.44%.

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.