CenterBook Partners LP Sells 29,815 Shares of Cigna Group (NYSE:CI)

CenterBook Partners LP cut its position in shares of Cigna Group (NYSE:CI - Free Report) by 92.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,553 shares of the health services provider's stock after selling 29,815 shares during the quarter. CenterBook Partners LP's holdings in Cigna Group were worth $840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Cigna Group in the fourth quarter valued at about $867,785,000. T. Rowe Price Investment Management Inc. purchased a new position in Cigna Group in the fourth quarter valued at about $724,517,000. GAMMA Investing LLC boosted its holdings in Cigna Group by 58,799.0% in the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after purchasing an additional 1,771,613 shares during the last quarter. GQG Partners LLC boosted its holdings in Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock valued at $225,385,000 after purchasing an additional 600,300 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CI has been the topic of a number of research analyst reports. Truist Financial increased their target price on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Morgan Stanley increased their price target on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen cut Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Friday. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Cowen reiterated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cigna Group has a consensus rating of "Buy" and a consensus price target of $380.39.

Cigna Group Trading Down 1.0%

Shares of CI traded down $3.01 during trading hours on Friday, reaching $295.27. The stock had a trading volume of 2,071,564 shares, compared to its average volume of 1,746,292. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a 50-day moving average of $313.74 and a 200 day moving average of $311.44. The company has a market cap of $78.88 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.88 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping 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 company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the business posted $6.47 EPS. The company's quarterly revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's payout ratio is currently 33.44%.

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.