Maj Invest Holding A S Sells 27,452 Shares of Cigna Group (NYSE:CI)

Maj Invest Holding A S trimmed its position in Cigna Group (NYSE:CI - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 476,469 shares of the health services provider's stock after selling 27,452 shares during the period. Cigna Group comprises about 5.7% of Maj Invest Holding A S's portfolio, making the stock its 7th largest holding. Maj Invest Holding A S owned approximately 0.17% of Cigna Group worth $156,757,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after acquiring an additional 318 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Cigna Group during the 4th quarter worth approximately $93,000. Proficio Capital Partners LLC boosted its holdings in shares of Cigna Group by 24.5% during the 4th quarter. Proficio Capital Partners LLC now owns 864 shares of the health services provider's stock worth $239,000 after purchasing an additional 170 shares during the last quarter. E Fund Management Co. Ltd. boosted its holdings in shares of Cigna Group by 98.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 1,791 shares of the health services provider's stock worth $495,000 after purchasing an additional 889 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in Cigna Group during the fourth quarter worth $2,599,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Trading Down 2.0%

CI traded down $6.41 during mid-day trading on Monday, hitting $313.34. 1,397,162 shares of the stock were exchanged, compared to its average volume of 1,742,260. The company has a market cap of $83.71 billion, a PE ratio of 17.35, a PEG ratio of 0.95 and a beta of 0.44. Cigna Group has a 1-year low of $262.03 and a 1-year 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. The firm's fifty day moving average is $319.74 and its two-hundred day moving average is $309.81.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.47 earnings per share. Equities analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's payout ratio is currently 33.44%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Cowen reissued a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Morgan Stanley boosted their price target on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Cantor Fitzgerald boosted their target price on shares of Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Finally, Robert W. Baird decreased their target price on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Two equities research 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. According to data from MarketBeat, Cigna Group presently has an average rating of "Buy" and an average target price of $380.39.

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.