Cigna Group (NYSE:CI) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. reduced its position in shares of Cigna Group (NYSE:CI - Free Report) by 45.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,200 shares of the health services provider's stock after selling 33,700 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Cigna Group were worth $13,226,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in shares of Cigna Group during the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in Cigna Group in the fourth quarter worth approximately $36,000. Transce3nd LLC acquired a new stake in Cigna Group during the fourth quarter worth $38,000. Ameriflex Group Inc. purchased a new stake in Cigna Group in the fourth quarter valued at $44,000. Finally, Heck Capital Advisors LLC purchased a new stake in Cigna Group in the fourth quarter valued at $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CI. Wall Street Zen upgraded Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Morgan Stanley increased their target price on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Truist Financial lifted their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Cowen restated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Finally, Piper Sandler increased their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two 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 stock. According to data from MarketBeat.com, Cigna Group has an average rating of "Buy" and an average target price of $380.39.

Cigna Group Stock Up 4.0%

Shares of NYSE:CI traded up $12.66 during trading hours on Thursday, reaching $328.66. The stock had a trading volume of 2,453,546 shares, compared to its average volume of 1,715,501. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm's 50 day moving average is $320.73 and its 200-day moving average is $307.64. The stock has a market capitalization of $87.80 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 0.94 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the prior year, the company posted $6.47 earnings per share. Cigna Group's revenue for the quarter was up 14.4% compared to the same quarter last year. Research analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.84%. Cigna Group's dividend payout ratio is presently 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.