Cigna Group (NYSE:CI) Shares Acquired by Running Oak Capital LLC

Running Oak Capital LLC grew its holdings in Cigna Group (NYSE:CI) by 26.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 48,649 shares of the health services provider’s stock after buying an additional 10,040 shares during the quarter. Cigna Group makes up 1.9% of Running Oak Capital LLC’s holdings, making the stock its 15th biggest holding. Running Oak Capital LLC’s holdings in Cigna Group were worth $16,006,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA increased its position in Cigna Group by 4.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after purchasing an additional 501,320 shares during the last quarter. Sanders Capital LLC increased its position in Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock worth $2,224,296,000 after purchasing an additional 154,420 shares during the last quarter. Geode Capital Management LLC increased its position in Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after purchasing an additional 101,737 shares during the last quarter. GQG Partners LLC increased its position in Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. Finally, Norges Bank acquired a new stake in Cigna Group during the fourth quarter worth about $867,785,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Trading Down 0.2%

NYSE CI opened at $313.76 on Friday. The firm has a 50 day simple moving average of $321.48 and a 200-day simple moving average of $307.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market cap of $83.82 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.93 and a beta of 0.44.

Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 net margin of 1.97% and a return on equity of 18.63%. The business had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter last year, the firm posted $6.47 earnings per share. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s payout ratio is 33.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Mizuho raised their price objective 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. Cowen restated a “buy” rating on shares of Cigna Group in a research report on Monday, May 5th. Barclays restated an “overweight” rating and set a $385.00 price objective (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Piper Sandler lifted their price target on shares of Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Robert W. Baird dropped their price target on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cigna Group has an average rating of “Buy” and an average price target 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.