Edmp Inc. Has $2.22 Million Stock Position in Cigna Group (NYSE:CI)

Edmp Inc. grew its stake in shares of Cigna Group (NYSE:CI) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,731 shares of the health services provider’s stock after purchasing an additional 386 shares during the quarter. Cigna Group comprises about 1.9% of Edmp Inc.’s portfolio, making the stock its 18th biggest holding. Edmp Inc.’s holdings in Cigna Group were worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after acquiring an additional 501,320 shares during the period. Sanders Capital LLC boosted its stake in shares of Cigna Group by 2.0% during the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock worth $2,224,296,000 after acquiring an additional 154,420 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cigna Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after acquiring an additional 101,737 shares during the period. GQG Partners LLC boosted its stake in shares of Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the period. Finally, Norges Bank bought a new position in shares of Cigna Group during the 4th quarter worth approximately $867,785,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Performance

Shares of CI opened at $316.83 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average price is $321.01 and its 200-day moving average price is $307.59. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market cap of $84.64 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.94 and a beta of 0.44.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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. 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% on a year-over-year basis. During the same period in the prior year, the firm posted $6.47 EPS. Equities research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. Cigna Group’s payout ratio is 33.44%.

Analyst Ratings Changes

Several brokerages have recently commented on CI. Piper Sandler lifted their target price on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Cantor Fitzgerald boosted their price target on Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Guggenheim restated a “buy” rating and issued a $388.00 price target on shares of Cigna Group in a research note on Friday, May 23rd. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a research note on Monday. 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. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Cigna Group presently has an average rating of “Buy” and an average target price of $380.39.

About Cigna Group

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.