Financiere des Professionnels Fonds d investissement inc. reduced its position in Cigna Group (NYSE:CI - Free Report) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,985 shares of the health services provider's stock after selling 1,287 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Cigna Group were worth $10,194,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its position in Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after purchasing an additional 318 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Cigna Group during the 4th quarter valued at approximately $93,000. Proficio Capital Partners LLC raised its position in Cigna Group by 24.5% during the 4th quarter. Proficio Capital Partners LLC now owns 864 shares of the health services provider's stock valued at $239,000 after purchasing an additional 170 shares during the last quarter. E Fund Management Co. Ltd. raised its position in Cigna Group by 98.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 1,791 shares of the health services provider's stock valued at $495,000 after purchasing an additional 889 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in Cigna Group during the 4th quarter valued at approximately $2,599,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on CI shares. Guggenheim reaffirmed a "buy" rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Mizuho upped their target price on Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Morgan Stanley upped their target price on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Finally, Truist Financial upped their target price on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cigna Group currently has an average rating of "Buy" and a consensus price target of $380.39.
Read Our Latest Stock Report on Cigna Group
Cigna Group Stock Down 2.0%
CI traded down $6.41 during trading on Monday, hitting $313.34. 1,397,162 shares of the company's stock traded hands, compared to its average volume of 1,742,260. The company's 50 day simple moving average is $319.74 and its two-hundred day simple moving average is $309.81. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a market capitalization of $83.71 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 0.95 and a beta of 0.44.
Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company's revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.47 EPS. Analysts predict that Cigna Group will post 29.77 earnings per share 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 annualized dividend and a dividend yield of 1.93%. Cigna Group's payout ratio is 33.44%.
Cigna Group Company Profile
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Free Report)
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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