Boston Partners Cuts Position in Cigna Group (NYSE:CI)

Key Points

• Boston Partners has reduced its stake in Cigna Group by 35.6%, selling 229,103 shares during the first quarter, leaving them with 414,204 shares valued at approximately $136.3 million.
• Cigna Group reported $7.20 EPS for the quarter, surpassing analysts' estimates of $7.15, with revenue reaching $67.13 billion compared to the expected $62.61 billion.
• The company announced a quarterly dividend of $1.51 per share, with an ex-dividend date set for September 4th, resulting in a dividend yield of 2.1%.

Boston Partners reduced its stake in Cigna Group (NYSE:CI - Free Report) by 35.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 414,204 shares of the health services provider's stock after selling 229,103 shares during the quarter. Boston Partners owned approximately 0.16% of Cigna Group worth $136,287,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Putney Financial Group LLC bought a new position in Cigna Group in the 4th quarter valued at $36,000. Evermay Wealth Management LLC raised its stake in shares of Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after purchasing an additional 41 shares during the period. Transce3nd LLC purchased a new position in shares of Cigna Group in the 4th quarter worth about $38,000. Richardson Financial Services Inc. bought a new position in Cigna Group during the first quarter valued at about $38,000. Finally, Wayfinding Financial LLC bought a new position in Cigna Group during the first quarter valued at about $40,000. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CI has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research report on Thursday. Truist Financial lifted their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Cowen reissued a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley upped their price target on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Three investment 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's stock. According to data from MarketBeat, Cigna Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $378.33.

Cigna Group Price Performance

NYSE:CI traded up $6.67 during trading hours on Friday, hitting $297.02. The stock had a trading volume of 2,918,002 shares, compared to its average volume of 2,115,989. The company has a 50 day simple moving average of $302.03 and a two-hundred day simple moving average of $311.13. The firm has a market capitalization of $79.28 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 0.87 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a one year low of $256.89 and a one year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. The company had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter last year, the business posted $6.72 earnings per share. The firm's revenue was up 11.0% compared to the same quarter last year. Research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio is 32.97%.

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.