Mizuho Securities USA LLC Sells 4,441 Shares of Cigna Group (NYSE:CI)

Key Points

• Mizuho Securities USA LLC reduced its stake in Cigna Group by 16.8%, now holding a position worth $7.21 million after selling 4,441 shares during the first quarter.
• Analysts have varying opinions on Cigna Group, with a consensus rating of "Moderate Buy" and a target price averaging $377.72, following significant changes in target prices by different firms.
• Cigna Group reported a quarterly EPS of $7.20, exceeding estimates and marking an 11% increase in revenue year-over-year, alongside declaring a quarterly dividend of $1.51.

Mizuho Securities USA LLC reduced its holdings in Cigna Group (NYSE:CI - Free Report) by 16.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,922 shares of the health services provider's stock after selling 4,441 shares during the quarter. Mizuho Securities USA LLC's holdings in Cigna Group were worth $7,212,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of 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 valued at $1,032,000 after purchasing an additional 318 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Cigna Group by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider's stock worth $4,658,000 after purchasing an additional 1,689 shares during the period. Advisory Services Network LLC increased its stake in Cigna Group by 22.6% during the 4th quarter. Advisory Services Network LLC now owns 4,420 shares of the health services provider's stock worth $1,220,000 after acquiring an additional 816 shares during the period. Argent Trust Co increased its stake in Cigna Group by 3.6% during the 4th quarter. Argent Trust Co now owns 4,243 shares of the health services provider's stock worth $1,172,000 after acquiring an additional 148 shares during the period. Finally, Heritage Trust Co bought a new position in Cigna Group during the 4th quarter worth $949,000. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Price Performance

Shares of NYSE CI traded up $6.49 during mid-day trading on Wednesday, hitting $286.96. 1,409,971 shares of the company's stock traded hands, compared to its average volume of 1,853,410. The company's 50-day moving average is $303.19 and its two-hundred day moving average is $311.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $76.60 billion, a P/E ratio of 15.66, a PEG ratio of 0.81 and a beta of 0.47. Cigna Group has a 1 year low of $256.89 and a 1 year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $6.72 EPS. On average, equities analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

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 given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio is 32.97%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley raised their price objective on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Finally, Truist Financial boosted their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $377.72.

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.