Edmp Inc. Boosts Stake in Cigna Group (NYSE:CI)

Edmp Inc. lifted its stake in Cigna Group (NYSE:CI) by 6.1% in the 1st quarter, HoldingsChannel reports. The firm owned 6,731 shares of the health services provider’s stock after acquiring an additional 386 shares during the period. Cigna Group makes up 1.9% of Edmp Inc.’s portfolio, making the stock its 18th largest holding. Edmp Inc.’s holdings in Cigna Group were worth $2,215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. TCTC Holdings LLC purchased a new stake in Cigna Group in the 4th quarter worth $25,000. Putney Financial Group LLC purchased a new stake in Cigna Group in the 4th quarter worth $36,000. Transce3nd LLC bought a new position in shares of Cigna Group during the 4th quarter valued at about $38,000. Ameriflex Group Inc. bought a new position in shares of Cigna Group during the 4th quarter valued at about $44,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Cigna Group during the 4th quarter valued at about $53,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CI. Barclays reissued an “overweight” rating and set a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a report on Tuesday, June 3rd. Robert W. Baird dropped their price objective on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a report on Monday. Finally, Mizuho lifted their price target on Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $380.39.

Cigna Group Price Performance

Shares of NYSE:CI opened at $316.83 on Wednesday. The company has a 50-day simple moving average of $321.01 and a 200-day simple moving average of $307.59. Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $84.64 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.94 and a beta of 0.44.

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

Cigna Group Announces Dividend

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