KBC Group NV Lowers Stock Position in Cigna Group (NYSE:CI)

KBC Group NV decreased its holdings in Cigna Group (NYSE:CI - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 539,501 shares of the health services provider's stock after selling 11,137 shares during the quarter. KBC Group NV owned 0.20% of Cigna Group worth $177,496,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Family Legacy Inc. grew its stake in shares of Cigna Group by 0.5% in the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock worth $2,138,000 after acquiring an additional 31 shares in the last quarter. Mission Wealth Management LP lifted its position in shares of Cigna Group by 1.5% during the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after purchasing an additional 32 shares in the last quarter. Westend Capital Management LLC boosted its holdings in Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock worth $140,000 after purchasing an additional 32 shares during the last quarter. Moody National Bank Trust Division increased its stake in Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after buying an additional 34 shares during the last quarter. Finally, Kesler Norman & Wride LLC lifted its position in shares of Cigna Group by 1.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock worth $562,000 after buying an additional 35 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald upped their target price on Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Truist Financial upped their price objective on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Cowen reiterated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Guggenheim restated a "buy" rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Finally, Piper Sandler lifted their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Price Performance

CI traded up $3.81 during trading on Monday, reaching $330.12. 4,328,581 shares of the company were exchanged, compared to its average volume of 1,730,641. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company's 50-day moving average is $320.64 and its two-hundred day moving average is $308.08. 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 company has a market cap of $88.19 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 0.97 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last announced 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. 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 analysts' expectations of $60.39 billion. During the same period in the prior year, the business posted $6.47 earnings per share. The company's revenue was up 14.4% on a year-over-year basis. Research analysts forecast 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. Investors of record on Tuesday, June 3rd were given a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.83%. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

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.