Altrius Capital Management Inc Has $4.93 Million Stock Position in Cigna Group (NYSE:CI)

Altrius Capital Management Inc increased its stake in Cigna Group (NYSE:CI) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,981 shares of the health services provider’s stock after acquiring an additional 565 shares during the quarter. Altrius Capital Management Inc’s holdings in Cigna Group were worth $4,929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Heartland Bank & Trust Co acquired a new position in shares of Cigna Group in the first quarter worth approximately $255,000. Running Oak Capital LLC lifted its stake in shares of Cigna Group by 26.0% in the first quarter. Running Oak Capital LLC now owns 48,649 shares of the health services provider’s stock worth $16,006,000 after acquiring an additional 10,040 shares during the period. Sivik Global Healthcare LLC lifted its stake in shares of Cigna Group by 4.2% in the first quarter. Sivik Global Healthcare LLC now owns 12,500 shares of the health services provider’s stock worth $4,113,000 after acquiring an additional 500 shares during the period. Garde Capital Inc. acquired a new position in shares of Cigna Group in the first quarter worth approximately $90,000. Finally, Canoe Financial LP lifted its stake in shares of Cigna Group by 95.3% in the first quarter. Canoe Financial LP now owns 1,086 shares of the health services provider’s stock worth $357,000 after acquiring an additional 530 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on CI shares. Mizuho boosted their price target on Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Truist Financial boosted their price target on Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Wall Street Zen raised Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research note on Tuesday, June 3rd. Finally, Cowen reissued a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $380.39.

Cigna Group Trading Down 0.2%

Shares of Cigna Group stock opened at $313.76 on Friday. The stock has a fifty day simple moving average of $321.48 and a 200 day simple moving average of $307.63. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market capitalization of $83.82 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65.

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

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $1.51 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.93%. Cigna Group’s dividend payout ratio (DPR) is presently 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.