GHP Investment Advisors Inc. Purchases 327 Shares of Cigna Group (NYSE:CI)

GHP Investment Advisors Inc. lifted its position in shares of Cigna Group (NYSE:CI) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,844 shares of the health services provider’s stock after purchasing an additional 327 shares during the period. GHP Investment Advisors Inc.’s holdings in Cigna Group were worth $8,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Strategies LLC grew its stake in shares of Cigna Group by 20.3% in the first quarter. Eagle Strategies LLC now owns 1,173 shares of the health services provider’s stock worth $386,000 after purchasing an additional 198 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Cigna Group by 5.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 31,635 shares of the health services provider’s stock worth $10,408,000 after buying an additional 1,737 shares during the period. Continuum Advisory LLC increased its stake in shares of Cigna Group by 23.7% in the first quarter. Continuum Advisory LLC now owns 334 shares of the health services provider’s stock valued at $110,000 after buying an additional 64 shares during the period. Palumbo Wealth Management LLC raised its position in shares of Cigna Group by 4.8% during the first quarter. Palumbo Wealth Management LLC now owns 1,876 shares of the health services provider’s stock worth $617,000 after acquiring an additional 86 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Cigna Group during the first quarter worth about $2,575,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Performance

NYSE CI opened at $317.00 on Tuesday. The company has a market cap of $84.68 billion, a P/E ratio of 17.55, a PEG ratio of 0.93 and a beta of 0.44. The company has a fifty day simple moving average of $321.24 and a 200 day simple moving average of $307.52. 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 has a 12-month low of $262.03 and a 12-month high of $370.83.

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

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Tuesday, June 3rd. Cigna Group’s dividend payout ratio is 33.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CI shares. Piper Sandler lifted their price objective on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Truist Financial boosted their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Cantor Fitzgerald upped their price objective on shares of Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Barclays reissued an “overweight” rating and set a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Finally, Morgan Stanley upped their price target on shares of Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus 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.