Deutsche Bank AG Sells 169,018 Shares of Cigna Group (NYSE:CI)

Key Points

• Deutsche Bank AG reduced its stake in Cigna Group by 11.3%, now owning approximately 1,321,886 shares, worth about $434.9 million.
• The current consensus price target for Cigna Group's stock is $377.72, with an average rating of "Moderate Buy" from analysts.
• Cigna Group announced a quarterly dividend of $1.51 per share, yielding 2.2%, with an ex-dividend date set for September 4th.

Deutsche Bank AG cut its stake in shares of Cigna Group (NYSE:CI - Free Report) by 11.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,321,886 shares of the health services provider's stock after selling 169,018 shares during the quarter. Deutsche Bank AG owned approximately 0.49% of Cigna Group worth $434,900,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CI. Family Legacy Inc. lifted its stake in shares of Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock worth $2,138,000 after acquiring an additional 31 shares during the period. Impact Investors Inc raised its holdings in Cigna Group by 1.6% during the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock worth $650,000 after purchasing an additional 31 shares during the last quarter. Mission Wealth Management LP lifted its position in shares of Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock worth $691,000 after purchasing an additional 32 shares during the period. Westend Capital Management LLC boosted its stake in shares of Cigna Group by 8.1% in the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a "buy" rating in a report on Tuesday. Barclays dropped their price objective on Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Piper Sandler lifted their target price on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Wall Street Zen cut Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $377.72.

Cigna Group Stock Performance

CI opened at $270.00 on Friday. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83. The company has a market cap of $72.07 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.79 and a beta of 0.47. The company's fifty day moving average price is $305.39 and its two-hundred day moving average price is $311.54. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

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, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same period in the previous year, the firm posted $6.72 earnings per share. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group's payout ratio is presently 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.

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