Cigna Group (NYSE:CI) Holdings Raised by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. boosted its holdings in Cigna Group (NYSE:CI) by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,296 shares of the health services provider’s stock after acquiring an additional 756 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Cigna Group were worth $2,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evermay Wealth Management LLC raised its position in Cigna Group by 58.6% in the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider’s stock worth $37,000 after acquiring an additional 41 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in Cigna Group in the first quarter worth about $38,000. Wayfinding Financial LLC bought a new stake in Cigna Group in the first quarter worth about $40,000. Putney Financial Group LLC bought a new stake in Cigna Group in the fourth quarter worth about $36,000. Finally, Transce3nd LLC acquired a new stake in Cigna Group during the 4th quarter worth about $38,000. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Trading Down 0.1%

Shares of CI stock opened at $291.97 on Wednesday. Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 is $311.29 and its two-hundred day moving average is $312.28. The company has a market cap of $78.00 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.88 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 EPS for the quarter, beating 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 quarter last year, the company posted $6.47 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. Cigna Group’s dividend payout ratio is 33.44%.

Analysts Set New Price Targets

Several research firms have issued reports on CI. Wall Street Zen downgraded Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Royal Bank Of Canada restated an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Piper Sandler upped their target price on Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Mizuho upped their target price on Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, TD Cowen upgraded Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Cigna Group 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.