Lbp Am Sa Trims Holdings in Cigna Group (NYSE:CI)

LBP AM SA cut its stake in shares of Cigna Group (NYSE:CI - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,555 shares of the health services provider's stock after selling 1,039 shares during the quarter. LBP AM SA's holdings in Cigna Group were worth $10,382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CI. Family Legacy Inc. increased its holdings in shares of Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after purchasing an additional 31 shares during the period. Impact Investors Inc increased its holdings in shares of Cigna Group by 1.6% in the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after purchasing an additional 31 shares during the period. Mission Wealth Management LP increased its holdings in shares of Cigna Group by 1.5% in 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 during the period. Westend Capital Management LLC increased its holdings in shares of Cigna Group by 8.1% in the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares during the period. Finally, Moody National Bank Trust Division increased its holdings in shares of Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CI has been the topic of a number of research reports. Cowen reissued a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Barclays reissued an "overweight" rating and issued a $385.00 price objective (up from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Wall Street Zen raised Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Robert W. Baird dropped 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, Morgan Stanley raised their target price on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cigna Group currently has an average rating of "Buy" and an average target price of $380.39.

Cigna Group Price Performance

CI traded down $6.07 during trading on Friday, hitting $302.71. The company's stock had a trading volume of 1,590,753 shares, compared to its average volume of 1,741,564. The firm has a market capitalization of $80.86 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 0.90 and a beta of 0.44. The business's fifty day simple moving average is $317.02 and its 200 day simple moving average is $310.83. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65.

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. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.47 earnings per share. On average, equities research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders 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 annualized dividend and a dividend yield of 2.00%. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

Cigna Group Company 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.