MBM Wealth Consultants LLC Has $1.31 Million Stock Holdings in Cigna Group (NYSE:CI)

MBM Wealth Consultants LLC lifted its holdings in shares of Cigna Group (NYSE:CI) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,986 shares of the health services provider’s stock after purchasing an additional 101 shares during the quarter. MBM Wealth Consultants LLC’s holdings in Cigna Group were worth $1,311,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CI. TCTC Holdings LLC bought a new position in Cigna Group in the 4th quarter worth $25,000. Putney Financial Group LLC acquired a new stake in Cigna Group during the fourth quarter worth about $36,000. Transce3nd LLC acquired a new position in Cigna Group in the 4th quarter valued at approximately $38,000. Ameriflex Group Inc. acquired a new stake in shares of Cigna Group during the 4th quarter worth approximately $44,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Cigna Group during the fourth quarter valued at approximately $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Performance

Shares of NYSE:CI opened at $320.44 on Thursday. The stock has a market capitalization of $85.60 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.99 and a beta of 0.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business has a 50-day moving average price of $320.38 and a two-hundred day moving average price of $308.69.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same period last year, the firm earned $6.47 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s dividend payout ratio is currently 33.44%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Truist Financial upped their price target on Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Mizuho increased their target price on shares of Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Finally, TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Two research 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 stock. According to MarketBeat, the stock presently has a consensus 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.