Cigna Group (NYSE:CI) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Cigna Group by 4.0%, now holding 102,366 shares valued at approximately $33.7 million.
• Cigna Group reported $7.20 earnings per share for the last quarter, surpassing the estimates and reflecting an 11.0% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $1.51 per share, resulting in an annualized yield of 2.3% with a payout ratio of 33.44%.

US Bancorp DE trimmed its holdings in Cigna Group (NYSE:CI - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,366 shares of the health services provider's stock after selling 4,287 shares during the period. US Bancorp DE's holdings in Cigna Group were worth $33,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC grew its stake in Cigna Group by 58.6% in the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock valued at $37,000 after acquiring an additional 41 shares during the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of Cigna Group during the 1st quarter worth about $38,000. Wayfinding Financial LLC acquired a new stake in shares of Cigna Group during the 1st quarter worth about $40,000. Putney Financial Group LLC acquired a new stake in shares of Cigna Group during the 4th quarter worth about $36,000. Finally, Transce3nd LLC acquired a new stake in shares of Cigna Group during the 4th quarter worth about $38,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CI shares. Guggenheim decreased their price target on shares of Cigna Group from $388.00 to $350.00 and set a "buy" rating on the stock in a research note on Monday. Robert W. Baird decreased 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 note on Tuesday, April 15th. Truist Financial raised their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cigna Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $376.56.

Cigna Group Trading Up 1.7%

NYSE CI traded up $4.58 during mid-day trading on Tuesday, hitting $271.17. The company's stock had a trading volume of 3,149,966 shares, compared to its average volume of 1,863,230. The firm has a market capitalization of $72.38 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 0.80 and a beta of 0.47. The stock's fifty day simple moving average is $307.92 and its two-hundred day simple moving average is $312.21. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

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

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders 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 dividend yield of 2.2%. Cigna Group's dividend payout ratio (DPR) is currently 32.97%.

Cigna Group Company 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.