KLP Kapitalforvaltning AS Decreases Stock Holdings in Cigna Group (NYSE:CI)

KLP Kapitalforvaltning AS lessened its position in shares of Cigna Group (NYSE:CI - Free Report) by 20.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,023 shares of the health services provider's stock after selling 37,800 shares during the period. KLP Kapitalforvaltning AS owned 0.05% of Cigna Group worth $49,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Family Legacy Inc. increased its holdings in Cigna Group by 0.5% during the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock worth $2,138,000 after purchasing an additional 31 shares during the period. Impact Investors Inc boosted its position in Cigna Group by 1.6% during the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after acquiring an additional 31 shares in the last quarter. Mission Wealth Management LP boosted its position in Cigna Group by 1.5% during the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after acquiring an additional 32 shares in the last quarter. Westend Capital Management LLC boosted its position in Cigna Group by 8.1% during the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after acquiring an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in Cigna Group by 0.7% during 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 acquiring an additional 34 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Price Performance

Shares of NYSE:CI traded down $10.67 during trading on Thursday, reaching $293.67. 1,651,425 shares of the company's stock traded hands, compared to its average volume of 1,811,552. Cigna Group has a fifty-two week low of $262.03 and a fifty-two 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 firm has a market cap of $78.45 billion, a PE ratio of 16.26, a P/E/G ratio of 0.90 and a beta of 0.44. The company has a 50-day simple moving average of $313.31 and a 200-day simple moving average of $311.66.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results 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 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 last year, the firm earned $6.47 EPS. The company's quarterly revenue was up 14.4% on a year-over-year basis. As a group, analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, September 4th. Cigna Group's payout ratio is 33.44%.

Analyst Ratings Changes

Several analysts have issued reports on CI shares. Mizuho increased their target price on Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Morgan Stanley increased their target price on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen cut Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Cowen reiterated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Finally, Guggenheim reiterated a "buy" rating and set a $388.00 price objective on shares of Cigna Group in a report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $380.39.

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.