Cigna Group (NYSE:CI) Shares Sold by Ruffer LLP

Key Points

• Ruffer LLP decreased its ownership in Cigna Group by 68.1%, now holding 192,000 shares, which comprises approximately 2.4% of its portfolio.
• A number of institutional investors have recently altered their positions in Cigna Group, with institutional ownership now at 86.99%.
• Cigna Group has reported a quarterly EPS of $7.20, surpassing estimates, with a revenue increase of 11.0% from the previous year.

Ruffer LLP decreased its position in Cigna Group (NYSE:CI - Free Report) by 68.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 192,000 shares of the health services provider's stock after selling 409,066 shares during the period. Cigna Group comprises 2.4% of Ruffer LLP's investment portfolio, making the stock its 8th biggest position. Ruffer LLP owned approximately 0.07% of Cigna Group worth $63,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Putney Financial Group LLC purchased a new stake in shares of Cigna Group during the fourth quarter worth about $36,000. Evermay Wealth Management LLC increased its stake in shares of Cigna Group by 58.6% during the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after purchasing an additional 41 shares in the last quarter. Transce3nd LLC purchased a new stake in Cigna Group during the 4th quarter valued at about $38,000. Richardson Financial Services Inc. purchased a new stake in Cigna Group during the 1st quarter valued at about $38,000. Finally, Wayfinding Financial LLC purchased a new stake in Cigna Group during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CI. Guggenheim reaffirmed a "buy" rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research note on Monday. Barclays decreased their target price on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Robert W. Baird decreased their target price on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Piper Sandler boosted their target price on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $377.72.

Cigna Group Stock Up 0.0%

Shares of NYSE CI traded up $0.04 during mid-day trading on Thursday, reaching $270.00. The company had a trading volume of 1,964,136 shares, compared to its average volume of 1,861,969. 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 50 day simple moving average of $306.22 and a two-hundred day simple moving average of $311.64. The stock has a market cap of $72.07 billion, a P/E ratio of 14.74, a PEG ratio of 0.81 and a beta of 0.47. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83.

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

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.2%. Cigna Group's dividend payout ratio is currently 32.97%.

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.