Cigna Group (NYSE:CI) Shares Sold by Outfitter Financial LLC

Outfitter Financial LLC lowered its holdings in Cigna Group (NYSE:CI - Free Report) by 17.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,075 shares of the health services provider's stock after selling 850 shares during the period. Outfitter Financial LLC's holdings in Cigna Group were worth $1,341,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CI. Norges Bank acquired a new stake in shares of Cigna Group in the fourth quarter worth $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Cigna Group in the fourth quarter worth $724,517,000. GAMMA Investing LLC increased its position in shares of 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 worth $583,852,000 after acquiring an additional 1,771,613 shares in the last quarter. GQG Partners LLC grew its holdings in Cigna Group by 22.4% during 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 in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Cigna Group by 278.0% during 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 in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Cowen restated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Robert W. Baird reduced their price target on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Mizuho raised their price target on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Barclays restated an "overweight" rating and issued a $385.00 price target (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $380.39.

Cigna Group Stock Performance

Shares of NYSE:CI traded down $1.81 during trading on Friday, reaching $296.47. The stock had a trading volume of 263,319 shares, compared to its average volume of 1,734,329. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $314.51 and a two-hundred day simple moving average of $311.06. The firm has a market capitalization of $79.20 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 0.91 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion for 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 quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.47 EPS. As a group, analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's dividend payout ratio is currently 33.44%.

Cigna Group 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.

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