Cornerstone Wealth Group LLC Acquires 170 Shares of Cigna Group (NYSE:CI)

Cornerstone Wealth Group LLC boosted its position in Cigna Group (NYSE:CI) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,277 shares of the health services provider’s stock after buying an additional 170 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Cigna Group were worth $1,078,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. TCTC Holdings LLC acquired a new stake in Cigna Group in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in Cigna Group in the 4th quarter valued at approximately $36,000. Transce3nd LLC acquired a new stake in Cigna Group in the 4th quarter valued at approximately $38,000. Ameriflex Group Inc. acquired a new stake in Cigna Group in the 4th quarter valued at approximately $44,000. Finally, Heck Capital Advisors LLC acquired a new stake in Cigna Group in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CI shares. Piper Sandler lifted their target price on Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Wall Street Zen raised Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Guggenheim reaffirmed a “buy” rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. TD Cowen raised Cigna Group to a “strong-buy” rating in a research report on Monday. Finally, Cowen reaffirmed a “buy” rating on shares of Cigna Group in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $380.39.

Cigna Group Stock Performance

CI opened at $317.00 on Tuesday. The business has a fifty day simple moving average of $321.24 and a 200 day simple moving average of $307.52. The company has a market capitalization of $84.68 billion, a PE ratio of 17.55, a price-to-earnings-growth 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 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 earnings per share for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the company posted $6.47 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. Research analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. Cigna Group’s payout ratio is 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.