Perigon Wealth Management LLC Raises Holdings in Cigna Group (NYSE:CI)

Perigon Wealth Management LLC grew its position in shares of Cigna Group (NYSE:CI) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,439 shares of the health services provider’s stock after buying an additional 83 shares during the period. Perigon Wealth Management LLC’s holdings in Cigna Group were worth $2,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CI. Norges Bank purchased a new position in shares of Cigna Group during the 4th quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. purchased a new stake in Cigna Group during the 4th quarter worth about $724,517,000. GAMMA Investing LLC lifted its holdings in Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after purchasing an additional 1,771,613 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Cigna Group during the 4th quarter worth about $313,911,000. Finally, GQG Partners LLC lifted its holdings in Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Guggenheim restated a “buy” rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Wall Street Zen upgraded Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Robert W. Baird reduced their target price on Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 target price on shares of Cigna Group in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $380.39.

Cigna Group Stock Performance

Shares of NYSE CI opened at $326.68 on Friday. The stock has a market cap of $87.27 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 0.98 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 has a 1-year low of $262.03 and a 1-year high of $370.83. The stock’s 50-day moving average is $320.64 and its 200 day moving average is $307.81.

Cigna Group (NYSE:CI) last announced its quarterly earnings data 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. The company had revenue of $65.45 billion for 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 revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $6.47 EPS. On average, sell-side analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.85%. Cigna Group’s dividend payout ratio is 33.44%.

Cigna Group Company 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.