Simon Quick Advisors LLC Purchases 1,631 Shares of The Cigna Group (NYSE:CI)

Simon Quick Advisors LLC grew its position in shares of The Cigna Group (NYSE:CI) by 107.4% in the first quarter, Holdings Channel reports. The firm owned 3,149 shares of the health services provider’s stock after purchasing an additional 1,631 shares during the period. Simon Quick Advisors LLC’s holdings in The Cigna Group were worth $1,036,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CI. Norges Bank bought a new stake in shares of The Cigna Group during the 4th quarter worth $867,785,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of The Cigna Group during the 4th quarter worth $724,517,000. GAMMA Investing LLC lifted its holdings in shares of The Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after acquiring an additional 1,771,613 shares during the last quarter. Raymond James Financial Inc. bought a new stake in The Cigna Group in the fourth quarter worth $313,911,000. Finally, GQG Partners LLC lifted its stake in The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CI. Morgan Stanley boosted their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Barclays reaffirmed an “overweight” rating and set a $385.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, June 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $371.00 price objective on shares of The Cigna Group in a research note on Tuesday, June 3rd. Mizuho upped their price objective on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Finally, Guggenheim reaffirmed a “buy” rating and set a $388.00 price objective on shares of The Cigna Group in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $380.39.

The Cigna Group Price Performance

Shares of CI opened at $314.93 on Friday. The stock has a market cap of $84.13 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm’s 50-day simple moving average is $322.23 and its two-hundred day simple moving average is $308.70.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.47 earnings per share. Analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.92%. The Cigna Group’s dividend payout ratio is presently 33.44%.

The Cigna Group 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.