Cigna Group (NYSE:CI) Shares Sold by Banco Santander S.A.

Banco Santander S.A. decreased its position in Cigna Group (NYSE:CI - Free Report) by 90.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,469 shares of the health services provider's stock after selling 13,905 shares during the quarter. Banco Santander S.A.'s holdings in Cigna Group were worth $483,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its holdings in Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after acquiring an additional 188,235 shares in the last quarter. Humankind Investments LLC raised its holdings in Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after acquiring an additional 571 shares in the last quarter. NBC Securities Inc. acquired a new stake in Cigna Group in the first quarter valued at approximately $123,000. SBI Securities Co. Ltd. raised its holdings in Cigna Group by 18.8% in the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock valued at $131,000 after acquiring an additional 63 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in 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 acquiring an additional 2,381 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. Mizuho raised their target price on shares of Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Wall Street Zen cut shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Guggenheim cut their price objective on shares of Cigna Group from $388.00 to $350.00 and set a "buy" rating on the stock in a report on Monday. Finally, Piper Sandler raised their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $376.56.

Cigna Group Stock Performance

Shares of CI opened at $267.26 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm has a market cap of $71.34 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.79 and a beta of 0.47. The company's 50 day simple moving average is $307.92 and its 200-day simple moving average is $312.21. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83.

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

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.3%. Cigna Group's payout ratio is presently 32.97%.

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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