Jefferies Financial Group Inc. Sells 13,155 Shares of Cigna Group (NYSE:CI)

Key Points

• Jefferies Financial Group Inc. has reduced its stake in Cigna Group by 65.7%, now holding 6,882 shares, after selling 13,155 shares in the first quarter.
• Cigna Group's latest earnings showed an EPS of $7.20, exceeding expectations and representing an 11% revenue growth compared to the previous year.
• The company will distribute a $1.51 quarterly dividend to shareholders on September 18th, with a yield of 2.3%.

Jefferies Financial Group Inc. reduced its stake in shares of Cigna Group (NYSE:CI - Free Report) by 65.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,882 shares of the health services provider's stock after selling 13,155 shares during the period. Jefferies Financial Group Inc.'s holdings in Cigna Group were worth $2,264,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Putney Financial Group LLC bought a new position in Cigna Group during the fourth quarter valued at about $36,000. Evermay Wealth Management LLC grew its position in Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after acquiring an additional 41 shares during the last quarter. Transce3nd LLC bought a new stake in Cigna Group during the 4th quarter worth approximately $38,000. Richardson Financial Services Inc. bought a new stake in Cigna Group during the 1st quarter worth approximately $38,000. Finally, Wayfinding Financial LLC bought a new stake in Cigna Group during the 1st quarter worth approximately $40,000. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Stock Up 1.7%

CI stock traded up $4.58 during trading on Tuesday, reaching $271.17. The stock had a trading volume of 3,149,966 shares, compared to its average volume of 1,863,230. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The company's 50 day moving average is $307.92 and its two-hundred day moving average is $312.21. The company has a market capitalization of $72.38 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.80 and a beta of 0.47. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $6.72 EPS. Equities research analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group's dividend payout ratio (DPR) is currently 32.97%.

Analyst Ratings Changes

Several research firms have issued reports on CI. Truist Financial upped their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a research report on Thursday, June 26th. Guggenheim lowered their price objective on shares of Cigna Group from $388.00 to $350.00 and set a "buy" rating for the company in a research report on Monday. Wall Street Zen cut shares of Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Robert W. Baird lowered their price objective on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $376.56.

About Cigna Group

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.