Brookwood Investment Group LLC Takes $328,000 Position in Cigna Group (NYSE:CI)

Brookwood Investment Group LLC purchased a new stake in shares of Cigna Group (NYSE:CI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 997 shares of the health services provider’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after purchasing an additional 318 shares during the period. LPL Financial LLC lifted its holdings in Cigna Group by 15.7% in the fourth quarter. LPL Financial LLC now owns 181,438 shares of the health services provider’s stock worth $50,102,000 after purchasing an additional 24,578 shares during the period. Modern Wealth Management LLC lifted its holdings in Cigna Group by 74.6% in the fourth quarter. Modern Wealth Management LLC now owns 1,624 shares of the health services provider’s stock worth $476,000 after purchasing an additional 694 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Cigna Group by 7.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 442,464 shares of the health services provider’s stock worth $124,200,000 after purchasing an additional 30,669 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in Cigna Group by 74.0% in the fourth quarter. WINTON GROUP Ltd now owns 1,056 shares of the health services provider’s stock worth $292,000 after purchasing an additional 449 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Trading Up 0.8%

NYSE:CI opened at $296.36 on Friday. 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 has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock’s 50-day moving average is $312.53 and its two-hundred day moving average is $311.87. The stock has a market cap of $79.17 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44.

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 the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same quarter in the previous year, the business posted $6.47 EPS. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.04%. Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Wall Street Analyst Weigh In

CI has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Barclays reiterated an “overweight” rating and issued a $385.00 price target (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Mizuho boosted their price target on shares of Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Finally, 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. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Cigna Group currently has an average rating of “Buy” and an average price target 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.