Avanza Fonder AB Sells 3,986 Shares of The Cigna Group (NYSE:CI)

Avanza Fonder AB cut its position in The Cigna Group (NYSE:CI - Free Report) by 17.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,425 shares of the health services provider's stock after selling 3,986 shares during the quarter. Avanza Fonder AB's holdings in The Cigna Group were worth $6,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CI. Parsons Capital Management Inc. RI lifted its position in shares of The Cigna Group by 19.8% in the 1st quarter. Parsons Capital Management Inc. RI now owns 980 shares of the health services provider's stock worth $322,000 after buying an additional 162 shares during the last quarter. Sonora Investment Management Group LLC bought a new position in The Cigna Group during the 1st quarter valued at $268,000. Simplicity Wealth LLC raised its stake in shares of The Cigna Group by 6.4% in the 1st quarter. Simplicity Wealth LLC now owns 802 shares of the health services provider's stock worth $264,000 after buying an additional 48 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of The Cigna Group by 79.0% in the first quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider's stock valued at $1,775,000 after buying an additional 2,381 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in The Cigna Group by 0.3% during the first quarter. Yousif Capital Management LLC now owns 48,808 shares of the health services provider's stock worth $16,058,000 after buying an additional 129 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.9%

CI traded up $2.92 during trading on Friday, hitting $318.29. The company had a trading volume of 833,042 shares, compared to its average volume of 1,812,159. The company has a market capitalization of $85.03 billion, a PE ratio of 26.00, a PEG 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 Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm's 50-day moving average price is $322.23 and its 200 day moving average price is $308.70.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $6.47 EPS. As a group, equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is 33.44%.

Analysts Set New Price Targets

CI has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $371.00 target price on shares of The Cigna Group in a report on Tuesday, June 3rd. Robert W. Baird lowered their price target on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Barclays reissued an "overweight" rating and issued a $385.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, June 2nd. Cantor Fitzgerald lifted their target price on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, Truist Financial increased their price target on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $380.39.

The Cigna Group Company 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.