Mutual of America Capital Management LLC Decreases Stock Holdings in Cigna Group (NYSE:CI)

Mutual of America Capital Management LLC cut its position in shares of Cigna Group (NYSE:CI - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,926 shares of the health services provider's stock after selling 1,671 shares during the quarter. Mutual of America Capital Management LLC's holdings in Cigna Group were worth $12,807,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. TCTC Holdings LLC bought a new position in shares of Cigna Group in the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of Cigna Group during the 4th quarter worth approximately $36,000. Transce3nd LLC purchased a new stake in shares of Cigna Group during the 4th quarter worth approximately $38,000. Wayfinding Financial LLC purchased a new stake in shares of Cigna Group during the 1st quarter worth approximately $40,000. Finally, Ameriflex Group Inc. purchased a new position in Cigna Group in the 4th quarter valued at approximately $44,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CI. Guggenheim reiterated a "buy" rating and issued a $388.00 price objective on shares of Cigna Group in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $385.00 price objective (up from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Morgan Stanley lifted their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Robert W. Baird reduced their price objective on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $380.39.

Cigna Group Trading Down 0.2%

Cigna Group stock traded down $0.64 during mid-day trading on Tuesday, hitting $302.42. The company's stock had a trading volume of 1,139,695 shares, compared to its average volume of 1,737,796. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $80.79 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 0.90 and a beta of 0.44. The business has a 50 day moving average price of $316.42 and a 200-day moving average price of $311.00. Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $6.47 earnings per share. As a group, analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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