Sivik Global Healthcare LLC Acquires 500 Shares of Cigna Group (NYSE:CI)

Sivik Global Healthcare LLC increased its holdings in shares of Cigna Group (NYSE:CI) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,500 shares of the health services provider’s stock after acquiring an additional 500 shares during the quarter. Cigna Group makes up about 2.2% of Sivik Global Healthcare LLC’s holdings, making the stock its 23rd largest position. Sivik Global Healthcare LLC’s holdings in Cigna Group were worth $4,113,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. TCTC Holdings LLC purchased a new position in shares of Cigna Group in the fourth quarter valued at $25,000. Putney Financial Group LLC bought a new stake in Cigna Group during the fourth quarter valued at $36,000. Transce3nd LLC bought a new stake in Cigna Group during the fourth quarter valued at $38,000. Ameriflex Group Inc. bought a new stake in Cigna Group during the fourth quarter valued at $44,000. Finally, Heck Capital Advisors LLC bought a new stake in Cigna Group during the fourth quarter valued at $53,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CI. Guggenheim reissued a “buy” rating and set a $388.00 price objective on shares of Cigna Group in a research note on Friday, May 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a research note on Tuesday, June 3rd. Cowen reissued a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Piper Sandler lifted their price objective on Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cigna Group has a consensus rating of “Buy” and an average target price of $380.39.

Cigna Group Trading Down 0.2%

Shares of CI stock opened at $313.76 on Friday. The stock has a market capitalization of $83.82 billion, a PE ratio of 17.37, a P/E/G ratio of 0.93 and a beta of 0.44. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business has a 50-day moving average of $321.48 and a 200 day moving average of $307.79. 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 issued its earnings results 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 company had revenue of $65.45 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $6.47 EPS. As a group, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s dividend payout ratio is presently 33.44%.

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.