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

Morningstar Investment Services LLC cut its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and 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 and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CI. Two Sigma Investments LP raised its stake in Cigna Group by 32.6% in the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after acquiring an additional 188,235 shares during the period. Humankind Investments LLC lifted its stake in Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after purchasing an additional 571 shares during the last quarter. NBC Securities Inc. bought a new stake in Cigna Group during the first quarter worth about $123,000. SBI Securities Co. Ltd. lifted its stake in shares of Cigna Group by 18.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock valued at $131,000 after acquiring an additional 63 shares during the last quarter. Finally, First American Trust FSB bought a new stake in Cigna Group in the fourth quarter valued at approximately $4,471,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Stock Down 0.4%

NYSE:CI traded down $1.11 during mid-day trading on Monday, hitting $294.60. 1,869,008 shares of the company's stock traded hands, compared to its average volume of 1,747,323. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day moving average of $313.74 and a 200 day moving average of $311.69. The company has a market capitalization of $78.70 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.88 and a beta of 0.44. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations 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 was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.47 earnings per share. On average, analysts forecast 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 was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's dividend payout ratio is currently 33.44%.

Analyst Ratings Changes

CI has been the topic of a number of recent analyst reports. Barclays reissued an "overweight" rating and set a $385.00 price target (up from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Wall Street Zen lowered Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Friday. Mizuho upped their price target on Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, Morgan Stanley increased their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cigna Group has a consensus rating of "Buy" and a consensus target price of $380.39.

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.