Empower Advisory Group LLC Buys 737 Shares of Cigna Group (NYSE:CI)

by · The Cerbat Gem

Empower Advisory Group LLC boosted its stake in shares of Cigna Group (NYSE:CI – Free Report) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,120 shares of the health services provider’s stock after purchasing an additional 737 shares during the quarter. Empower Advisory Group LLC’s holdings in Cigna Group were worth $3,658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after acquiring an additional 318 shares during the period. Wellington Management Group LLP boosted its position in shares of Cigna Group by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider’s stock valued at $4,658,000 after acquiring an additional 1,689 shares during the period. Bank of Nova Scotia boosted its position in shares of Cigna Group by 1.8% in the fourth quarter. Bank of Nova Scotia now owns 126,696 shares of the health services provider’s stock valued at $34,986,000 after acquiring an additional 2,296 shares during the period. Advisory Services Network LLC boosted its position in shares of Cigna Group by 22.6% in the fourth quarter. Advisory Services Network LLC now owns 4,420 shares of the health services provider’s stock valued at $1,220,000 after acquiring an additional 816 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of Cigna Group by 229.5% in the fourth quarter. APG Asset Management N.V. now owns 218,018 shares of the health services provider’s stock valued at $58,140,000 after acquiring an additional 151,854 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CI. Wall Street Zen cut shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird reduced their target price on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group in a research report on Tuesday. Piper Sandler boosted their price target on Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Mizuho boosted their price target on Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $377.72.

Get Our Latest Report on CI

Cigna Group Stock Performance

Cigna Group stock opened at $271.17 on Wednesday. The business has a 50 day moving average of $307.04 and a 200-day moving average of $311.93. Cigna Group has a 1 year low of $256.89 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $72.38 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.80 and a beta of 0.47.

Cigna Group (NYSE:CI – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter in the prior year, the firm posted $6.72 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.2%. Cigna Group’s dividend payout ratio is presently 32.97%.

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.

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