Intact Investment Management Inc. reduced its stake in shares of Cigna Group (NYSE:CI - Free Report) by 84.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200 shares of the health services provider's stock after selling 1,100 shares during the quarter. Intact Investment Management Inc.'s holdings in Cigna Group were worth $66,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of CI. TCTC Holdings LLC acquired a new position in Cigna Group during the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in Cigna Group during the fourth quarter worth $36,000. Transce3nd LLC bought a new stake in shares of Cigna Group during the fourth quarter worth $38,000. Ameriflex Group Inc. bought a new stake in shares of Cigna Group during the fourth quarter worth $44,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Cigna Group during the fourth quarter worth $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.
Cigna Group Trading Down 0.2%
NYSE:CI opened at $313.76 on Monday. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business's 50-day moving average price is $321.48 and its two-hundred day moving average price is $307.53. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $83.82 billion, a price-to-earnings ratio of 17.37, a PEG 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, beating the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the prior year, the firm posted $6.47 earnings per share. The company's quarterly revenue was up 14.4% on a year-over-year basis. On average, equities analysts expect that Cigna Group will post 29.77 earnings per share for the current year.
Cigna Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.93%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is 33.44%.
Wall Street Analysts Forecast Growth
CI has been the topic of several research analyst reports. Mizuho increased 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. Truist Financial increased 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. Piper Sandler increased 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. Robert W. Baird decreased their target price on Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Cowen restated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $380.39.
Check Out Our Latest Stock Analysis on Cigna Group
About Cigna Group
(
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.
Further Reading
Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI - Free Report).
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