Moran Wealth Management LLC Sells 3,592 Shares of Cigna Group (NYSE:CI)

Moran Wealth Management LLC lessened its position in Cigna Group (NYSE:CI - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,785 shares of the health services provider's stock after selling 3,592 shares during the quarter. Moran Wealth Management LLC's holdings in Cigna Group were worth $16,379,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. TCTC Holdings LLC acquired a new position in Cigna Group during the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new position in Cigna Group during the 4th quarter valued at about $36,000. Transce3nd LLC acquired a new position in shares of Cigna Group in the 4th quarter valued at about $38,000. Ameriflex Group Inc. purchased a new stake in shares of Cigna Group in the fourth quarter worth approximately $44,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Cigna Group during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Stock Performance

CI traded up $12.66 during trading on Thursday, hitting $328.66. The stock had a trading volume of 2,453,546 shares, compared to its average volume of 1,714,609. The firm has a market cap of $87.80 billion, a PE ratio of 18.20, a P/E/G ratio of 0.94 and a beta of 0.44. 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 has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a 50 day simple moving average of $320.73 and a 200-day simple moving average of $307.64.

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, beating the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period last year, the business posted $6.47 earnings per share. The firm's revenue was up 14.4% compared to the same quarter last year. Analysts expect that Cigna Group will post 29.77 EPS for the current 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. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.84%. Cigna Group's payout ratio is 33.44%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CI shares. Cantor Fitzgerald upped their price objective on shares of Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday. Mizuho increased their price objective on Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Truist Financial boosted their target price on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Morgan Stanley raised their price target on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus 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.