Cigna Group (NYSE:CI) Shares Sold by Morningstar Investment Services LLC

Morningstar Investment Services LLC trimmed its holdings in Cigna Group (NYSE:CI - Free Report) by 46.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,810 shares of the health services provider's stock after selling 1,556 shares during the period. Morningstar Investment Services LLC's holdings in Cigna Group were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Family Legacy Inc. lifted its stake in shares of Cigna Group by 0.5% in the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock worth $2,138,000 after acquiring an additional 31 shares during the period. Impact Investors Inc grew its position in Cigna Group by 1.6% during 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 in the last quarter. Mission Wealth Management LP grew its position in 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 worth $691,000 after acquiring an additional 32 shares in the last quarter. Westend Capital Management LLC grew its position in Cigna Group by 8.1% in the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock worth $140,000 after acquiring an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in shares of Cigna Group by 0.7% during the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock worth $1,509,000 after buying an additional 34 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Cigna Group Price Performance

NYSE CI traded up $2.17 during trading on Wednesday, hitting $302.22. 379,811 shares of the stock traded hands, compared to its average volume of 1,744,583. The company has a market capitalization of $80.73 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a 50-day simple moving average of $313.74 and a 200-day simple moving average of $311.69. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $6.47 EPS. As a group, analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.00%. Cigna Group's dividend payout ratio is currently 33.44%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CI. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Morgan Stanley lifted their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wall Street Zen cut shares of Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Guggenheim reaffirmed a "buy" rating and set a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Finally, Truist Financial upped their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $380.39.

About 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.