CX Institutional Reduces Holdings in The Cigna Group (NYSE:CI)

CX Institutional trimmed its position in The Cigna Group (NYSE:CI - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,577 shares of the health services provider's stock after selling 12,112 shares during the period. CX Institutional's holdings in The Cigna Group were worth $6,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 4.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock valued at $3,191,151,000 after purchasing an additional 501,320 shares during the period. Sanders Capital LLC raised its stake in shares of The Cigna Group by 2.0% during the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after buying an additional 154,420 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of The Cigna Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after buying an additional 101,737 shares during the period. GQG Partners LLC boosted its stake in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after buying an additional 737,099 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of The Cigna Group in the fourth quarter worth about $867,785,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

Shares of NYSE CI traded up $2.79 during midday trading on Thursday, hitting $312.99. The stock had a trading volume of 856,565 shares, compared to its average volume of 1,705,735. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $322.23 and a 200-day simple moving average of $308.82. The company has a market capitalization of $83.61 billion, a PE ratio of 25.57, a P/E/G ratio of 0.98 and a beta of 0.44. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data 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. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the company earned $6.47 EPS. The firm's revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.93%. The Cigna Group's dividend payout ratio is presently 33.44%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wall Street Zen upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Morgan Stanley raised their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Cantor Fitzgerald lifted their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Royal Bank of Canada reissued an "outperform" rating and set a $371.00 target price on shares of The Cigna Group in a research note on Tuesday, June 3rd. Finally, Guggenheim restated a "buy" rating and set a $388.00 target price on shares of The Cigna Group in a research report on Friday, May 23rd. Two investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $380.39.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

The 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.