Envestnet Portfolio Solutions Inc. Lowers Stake in Cigna Group (NYSE:CI)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Cigna Group (NYSE:CI - Free Report) by 29.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,489 shares of the health services provider's stock after selling 7,270 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cigna Group were worth $5,754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CI. Norges Bank acquired a new position in shares of Cigna Group in the 4th quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Cigna Group in the 4th quarter valued at $724,517,000. GAMMA Investing LLC increased its position in shares of Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after acquiring an additional 1,771,613 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Cigna Group in the 4th quarter valued at $313,911,000. Finally, GQG Partners LLC increased its position in shares of Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after acquiring an additional 737,099 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CI shares. Robert W. Baird cut their target price on Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Barclays reissued an "overweight" rating and issued a $385.00 target price (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Truist Financial increased their price target on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Tuesday, June 3rd. Finally, Piper Sandler increased their price target on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Cigna Group has a consensus rating of "Buy" and an average price target of $380.39.

Cigna Group Trading Down 0.2%

CI opened at $313.76 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The company's 50 day simple moving average is $321.48 and its two-hundred day simple moving average is $307.79. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market capitalization of $83.82 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44.

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

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. Cigna Group's dividend payout ratio is currently 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.

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