Keybank National Association OH Boosts Stake in Cigna Group (NYSE:CI)

Keybank National Association OH increased its stake in Cigna Group (NYSE:CI) by 0.9% in the 1st quarter, Holdings Channel reports. The fund owned 132,390 shares of the health services provider’s stock after buying an additional 1,174 shares during the quarter. Keybank National Association OH’s holdings in Cigna Group were worth $43,556,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CI. Two Sigma Investments LP raised its position in Cigna Group by 32.6% in the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock worth $211,219,000 after purchasing an additional 188,235 shares during the period. Humankind Investments LLC lifted its stake in shares of Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock valued at $1,462,000 after acquiring an additional 571 shares during the last quarter. NBC Securities Inc. purchased a new stake in Cigna Group during the 1st quarter valued at about $123,000. First American Trust FSB bought a new position in Cigna Group during the 4th quarter worth approximately $4,471,000. Finally, English Capital Management LLC increased its stake in Cigna Group by 6.2% in the 4th quarter. English Capital Management LLC now owns 20,586 shares of the health services provider’s stock worth $5,685,000 after purchasing an additional 1,202 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CI shares. Barclays restated an “overweight” rating and issued a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Robert W. Baird lowered their price objective on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Cantor Fitzgerald raised their target price on Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, Cowen reaffirmed a “buy” rating on shares of Cigna Group in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $380.39.

Cigna Group Stock Up 1.2%

NYSE:CI opened at $334.71 on Wednesday. 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 firm’s 50-day moving average price is $320.71 and its 200-day moving average price is $308.60. The company has a market capitalization of $89.41 billion, a PE ratio of 18.53, a P/E/G ratio of 0.98 and a beta of 0.44. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

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. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same quarter in the prior year, the company earned $6.47 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. On average, equities analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, June 3rd. Cigna Group’s payout ratio is 33.44%.

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.