Country Club Bank Increases Stake in Cigna Group (NYSE:CI)

by · The Markets Daily

Country Club Bank increased its holdings in Cigna Group (NYSE:CI – Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,435 shares of the health services provider’s stock after acquiring an additional 974 shares during the quarter. Country Club Bank’s holdings in Cigna Group were worth $5,667,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Family Legacy Inc. raised its stake in Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider’s stock worth $2,138,000 after buying an additional 31 shares in the last quarter. Impact Investors Inc raised its position in shares of Cigna Group by 1.6% in the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider’s stock worth $650,000 after acquiring an additional 31 shares in the last quarter. Mission Wealth Management LP lifted its stake in shares of Cigna Group by 1.5% during the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider’s stock worth $691,000 after purchasing an additional 32 shares during the last quarter. Westend Capital Management LLC boosted its position in Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider’s stock valued at $140,000 after purchasing an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division grew its stake in Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock valued at $1,509,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CI. Wall Street Zen upgraded shares of Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Robert W. Baird reduced their price target on Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley boosted their target price on Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Finally, Truist Financial upped their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $380.39.

Get Our Latest Stock Analysis on Cigna Group

Cigna Group Trading Down 0.4%

Shares of CI stock opened at $308.48 on Friday. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market cap of $82.41 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 0.92 and a beta of 0.44. The company has a 50-day moving average of $317.65 and a two-hundred day moving average of $310.26. 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 (NYSE:CI – Get Free Report) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (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 firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.47 earnings per share. On average, analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 yield of 1.96%. Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

About Cigna Group

(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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