IFP Advisors Inc Decreases Stake in Cigna Group (NYSE:CI)

IFP Advisors Inc cut its position in Cigna Group (NYSE:CI - Free Report) by 10.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,885 shares of the health services provider's stock after selling 1,116 shares during the period. IFP Advisors Inc's holdings in Cigna Group were worth $3,253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CI. Norges Bank purchased a new stake in Cigna Group during the 4th quarter worth about $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Cigna Group during the 4th quarter worth about $724,517,000. GAMMA Investing LLC lifted its stake in Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after purchasing an additional 1,771,613 shares during the last quarter. GQG Partners LLC boosted its holdings in 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 valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock valued at $225,385,000 after purchasing an additional 600,300 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Trading Down 1.0%

NYSE:CI opened at $295.27 on Monday. Cigna Group has a 52-week low of $262.03 and a 52-week 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 fifty day simple moving average of $313.74 and a 200-day simple moving average of $311.69. The company has a market capitalization of $78.88 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.88 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, topping analysts' consensus estimates of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the previous year, the firm posted $6.47 earnings per share. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's payout ratio is currently 33.44%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CI shares. Guggenheim restated a "buy" rating and issued a $388.00 target price on shares of Cigna Group in a report on Friday, May 23rd. Piper Sandler boosted their price target on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Cowen reissued a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Finally, TD Cowen raised Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $380.39.

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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