628 Shares in Cigna Group (NYSE:CI) Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. bought a new position in Cigna Group (NYSE:CI) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 628 shares of the health services provider’s stock, valued at approximately $207,000.

Several other hedge funds have also modified their holdings of CI. Two Sigma Investments LP raised its holdings in Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock valued at $211,219,000 after buying an additional 188,235 shares during the period. Humankind Investments LLC raised its holdings in Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock valued at $1,462,000 after buying an additional 571 shares during the period. NBC Securities Inc. purchased a new position in Cigna Group in the first quarter valued at approximately $123,000. SBI Securities Co. Ltd. raised its holdings in Cigna Group by 18.8% in the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider’s stock valued at $131,000 after buying an additional 63 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Cigna Group by 79.0% in the first quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock valued at $1,775,000 after buying an additional 2,381 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Up 0.8%

Shares of NYSE:CI opened at $296.36 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $312.53 and a 200 day simple moving average of $312.10. The firm 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 has a 12-month low of $262.03 and a 12-month high of $370.83.

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 net margin of 1.97% and a return on equity of 18.63%. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the firm earned $6.47 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

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 is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.04%. Cigna Group’s payout ratio is 33.44%.

Wall Street Analyst Weigh In

Several research firms recently commented on CI. Wall Street Zen lowered shares of Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Robert W. Baird dropped their price objective on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Mizuho lifted their price objective on shares of Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $380.39.

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.