Foundry Partners LLC lessened its stake in Cigna Group (NYSE:CI - Free Report) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,580 shares of the health services provider's stock after selling 2,574 shares during the period. Foundry Partners LLC's holdings in Cigna Group were worth $14,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in CI. Two Sigma Investments LP grew its stake in shares of Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after purchasing an additional 188,235 shares during the last quarter. Humankind Investments LLC increased its stake in shares of Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after buying an additional 571 shares during the period. NBC Securities Inc. bought a new stake in Cigna Group in the first quarter valued at approximately $123,000. SBI Securities Co. Ltd. raised its holdings in shares of Cigna Group by 18.8% during the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock valued at $131,000 after acquiring an additional 63 shares in the last quarter. Finally, First American Trust FSB purchased a new stake in shares of Cigna Group in the fourth quarter worth $4,471,000. 86.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Guggenheim restated a "buy" rating and issued a $388.00 target price on shares of Cigna Group in a research report on Friday, May 23rd. Robert W. Baird cut their target price on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Truist Financial lifted their target price on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Piper Sandler increased their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $380.39.
View Our Latest Analysis on CI
Cigna Group Stock Performance
Shares of CI traded down $3.01 during trading hours on Friday, reaching $295.27. 2,071,564 shares of the company traded hands, compared to its average volume of 1,746,292. The business has a fifty day moving average price of $313.74 and a 200-day moving average price of $311.44. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $78.88 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.88 and a beta of 0.44.
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 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 firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the firm posted $6.47 EPS. The firm's revenue was up 14.4% compared to the same quarter last year. Equities analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.
Cigna Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is 33.44%.
Cigna Group 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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