The Cigna Group (NYSE:CI) Holdings Decreased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in The Cigna Group (NYSE:CI - Free Report) by 58.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,017 shares of the health services provider's stock after selling 20,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in The Cigna Group were worth $4,941,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CI. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 4.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after buying an additional 501,320 shares in the last quarter. Sanders Capital LLC grew its stake in The Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock worth $2,224,296,000 after acquiring an additional 154,420 shares during the period. Geode Capital Management LLC raised its holdings in The Cigna Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after acquiring an additional 101,737 shares during the last quarter. GQG Partners LLC raised its holdings in The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of The Cigna Group during the 4th quarter worth $867,785,000. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Up 1.0%

Shares of The Cigna Group stock traded up $3.04 during trading hours on Friday, hitting $318.41. 773,215 shares of the company's stock traded hands, compared to its average volume of 1,708,737. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a market cap of $85.06 billion, a PE ratio of 26.01, a PEG ratio of 0.98 and a beta of 0.44. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $322.23 and a 200-day simple moving average of $308.70.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the business earned $6.47 EPS. The Cigna Group's revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is currently 33.44%.

Analyst Ratings Changes

CI has been the subject of several analyst reports. Mizuho upped their target price on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Wall Street Zen raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Morgan Stanley raised their target price on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Piper Sandler increased their price target on shares of The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $371.00 price target on shares of The Cigna Group in a report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $380.39.

About The 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.