Cigna Group (NYSE:CI) Position Reduced by Fortem Financial Group LLC

Fortem Financial Group LLC decreased its position in shares of Cigna Group (NYSE:CI - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,942 shares of the health services provider's stock after selling 926 shares during the period. Fortem Financial Group LLC's holdings in Cigna Group were worth $639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Cigna Group during the 4th quarter worth approximately $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Cigna Group during the 4th quarter valued at $724,517,000. GAMMA Investing LLC boosted its stake in shares of Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after buying an additional 1,771,613 shares during the period. GQG Partners LLC lifted its stake in shares of Cigna Group by 22.4% in the 4th 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 lifted its stake in shares of Cigna Group by 278.0% in the 4th 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. Institutional investors own 86.99% of the company's stock.

Cigna Group Stock Down 2.0%

Cigna Group stock opened at $302.71 on Friday. 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 12-month low of $262.03 and a 12-month high of $370.83. The firm's fifty day moving average is $317.02 and its 200 day moving average is $310.41. The company has a market capitalization of $80.86 billion, a PE ratio of 16.76, a PEG ratio of 0.92 and a beta of 0.44.

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

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 2.00%. Cigna Group's payout ratio is 33.44%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CI shares. Truist Financial boosted their target price on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Cantor Fitzgerald increased their price target on shares of Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Wall Street Zen raised shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently 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.

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