Chung Wu Investment Group LLC Acquires New Stake in Cigna Group (NYSE:CI)

Chung Wu Investment Group LLC acquired a new stake in Cigna Group (NYSE:CI) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 1,508 shares of the health services provider’s stock, valued at approximately $496,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Brighton Jones LLC grew its stake in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after acquiring an additional 318 shares in the last quarter. Crestwood Advisors Group LLC increased its holdings in Cigna Group by 7.7% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,672 shares of the health services provider’s stock worth $462,000 after purchasing an additional 119 shares during the period. Cutter & CO Brokerage Inc. raised its position in Cigna Group by 2.1% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 2,387 shares of the health services provider’s stock valued at $659,000 after purchasing an additional 50 shares in the last quarter. National Pension Service lifted its holdings in shares of Cigna Group by 1.6% in the 4th quarter. National Pension Service now owns 628,867 shares of the health services provider’s stock worth $173,655,000 after buying an additional 9,750 shares during the period. Finally, Impact Investors Inc purchased a new position in shares of Cigna Group during the fourth quarter valued at $537,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Piper Sandler boosted their price target on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a research note on Monday. Cantor Fitzgerald boosted their target price on shares of Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, Guggenheim restated a “buy” rating and issued a $388.00 price target on shares of Cigna Group in a report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $380.39.

Cigna Group Stock Down 0.4%

NYSE:CI opened at $315.51 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $320.73 and its 200-day moving average price is $307.64. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market capitalization of $84.29 billion, a P/E ratio of 17.47, a PEG ratio of 0.94 and a beta of 0.44.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period last year, the firm earned $6.47 EPS. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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

Cigna Group Company 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.