CHB Investment Group LLC Buys 144 Shares of The Cigna Group (NYSE:CI)

CHB Investment Group LLC increased its stake in shares of The Cigna Group (NYSE:CI) by 1.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,870 shares of the health services provider’s stock after acquiring an additional 144 shares during the quarter. The Cigna Group accounts for 1.4% of CHB Investment Group LLC’s portfolio, making the stock its 29th biggest position. CHB Investment Group LLC’s holdings in The Cigna Group were worth $2,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of CI. TCTC Holdings LLC purchased a new position in The Cigna Group in the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new position in The Cigna Group in the fourth quarter worth $36,000. Transce3nd LLC purchased a new position in The Cigna Group in the fourth quarter worth $38,000. Ameriflex Group Inc. purchased a new position in The Cigna Group in the fourth quarter worth $44,000. Finally, Heck Capital Advisors LLC purchased a new position in The Cigna Group in the fourth quarter worth $53,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Cowen reaffirmed a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Guggenheim reaffirmed a “buy” rating and set a $388.00 price target on shares of The Cigna Group in a research report on Friday, May 23rd. Truist Financial upped their price target on The Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Finally, Barclays reaffirmed an “overweight” rating and set a $385.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, June 2nd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $380.39.

The Cigna Group Price Performance

Shares of NYSE CI opened at $317.03 on Monday. The firm has a market capitalization of $84.69 billion, a P/E ratio of 25.90, a P/E/G ratio of 0.98 and a beta of 0.44. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock’s 50-day simple moving average is $322.31 and its two-hundred day simple moving average is $308.18. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results 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 analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $6.47 EPS. As a group, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 dividend on an annualized basis and a yield of 1.91%. The Cigna Group’s dividend payout ratio is currently 33.44%.

About The 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.