First National Advisers LLC Invests $225,000 in Cigna Group (NYSE:CI)

by · The Cerbat Gem

First National Advisers LLC purchased a new position in shares of Cigna Group (NYSE:CI – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 685 shares of the health services provider’s stock, valued at approximately $225,000.

A number of other hedge funds have also made changes to their positions in the stock. LPL Financial LLC grew its position in shares of Cigna Group by 14.1% during the first quarter. LPL Financial LLC now owns 207,026 shares of the health services provider’s stock worth $68,111,000 after buying an additional 25,588 shares in the last quarter. MRP Capital Investments LLC lifted its stake in Cigna Group by 29.2% during the first quarter. MRP Capital Investments LLC now owns 310 shares of the health services provider’s stock worth $102,000 after purchasing an additional 70 shares during the last quarter. Cornerstone Advisory LLC bought a new position in Cigna Group during the first quarter worth $244,000. Empirical Finance LLC lifted its stake in Cigna Group by 1.5% during the first quarter. Empirical Finance LLC now owns 11,969 shares of the health services provider’s stock worth $3,938,000 after purchasing an additional 177 shares during the last quarter. Finally, Valley Wealth Managers Inc. lifted its stake in Cigna Group by 10.9% during the first quarter. Valley Wealth Managers Inc. now owns 63,151 shares of the health services provider’s stock worth $20,777,000 after purchasing an additional 6,218 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CI. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Truist Financial raised their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Robert W. Baird reduced their price objective on Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley raised their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Mizuho raised their price objective on Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cigna Group has an average rating of “Buy” and a consensus price target of $380.39.

Get Our Latest Analysis on CI

Cigna Group Price Performance

Shares of CI opened at $296.36 on Monday. The firm has a market capitalization of $79.17 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock’s fifty day moving average is $312.53 and its 200-day moving average is $312.33.

Cigna Group (NYSE:CI – Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS 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 analyst estimates of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $6.47 earnings per share. Equities analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

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

Cigna Group Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI – Free Report).