Cigna Group (NYSE:CI) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. significantly reduced its stake in Cigna Group by 78.6% during the first quarter, leaving them with 3,496 shares valued at approximately $1.15 million.
• Cigna Group's latest earnings report showed an earnings per share of $7.20, surpassing analysts' expectations, with revenue increasing by 11.0% year-over-year to $67.13 billion.
• The company has announced a quarterly dividend of $1.51 per share, set to be paid on September 18th, providing an annualized dividend yield of 2.2%.

Federated Hermes Inc. lessened its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 78.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,496 shares of the health services provider's stock after selling 12,840 shares during the quarter. Federated Hermes Inc.'s holdings in Cigna Group were worth $1,150,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CI. Evermay Wealth Management LLC grew its stake in shares of Cigna Group by 58.6% in the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock valued at $37,000 after buying an additional 41 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of Cigna Group in the first quarter valued at about $38,000. Wayfinding Financial LLC acquired a new stake in shares of Cigna Group in the first quarter valued at about $40,000. Putney Financial Group LLC acquired a new stake in shares of Cigna Group in the fourth quarter valued at about $36,000. Finally, Transce3nd LLC acquired a new stake in shares of Cigna Group in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Ratings Changes

CI has been the subject of a number of analyst reports. Truist Financial increased their price target on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Morgan Stanley increased their price target on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Royal Bank Of Canada reissued an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Robert W. Baird reduced their price target on Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Piper Sandler increased their price target on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $377.72.

Cigna Group Stock Performance

CI traded up $4.03 during trading hours on Friday, hitting $275.03. The company's stock had a trading volume of 1,518,156 shares, compared to its average volume of 2,047,994. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $370.83. 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 capitalization of $73.41 billion, a PE ratio of 15.01, a PEG ratio of 0.79 and a beta of 0.47. The company has a 50-day simple moving average of $304.57 and a 200 day simple moving average of $311.45.

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 the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%. The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same period last year, the firm earned $6.72 EPS. The firm's revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group's dividend payout ratio (DPR) is 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.