Cigna Group (NYSE:CI) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in Cigna Group (NYSE:CI - Free Report) by 15.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 100,206 shares of the health services provider's stock after selling 18,791 shares during the period. Nisa Investment Advisors LLC's holdings in Cigna Group were worth $32,968,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CI. Family Legacy Inc. boosted its holdings 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 valued at $2,138,000 after purchasing an additional 31 shares in the last quarter. Impact Investors Inc grew its position in shares of Cigna Group by 1.6% during the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock worth $650,000 after buying an additional 31 shares during the period. Mission Wealth Management LP increased its position in Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after buying an additional 32 shares in the last quarter. Westend Capital Management LLC boosted its holdings 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 increased its holdings in shares of Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after acquiring an additional 34 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Cigna Group Stock Performance

Cigna Group stock traded down $2.52 during midday trading on Wednesday, hitting $309.48. 983,939 shares of the company were exchanged, compared to its average volume of 1,740,061. The business has a fifty day simple moving average of $318.80 and a two-hundred day simple moving average of $310.08. 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 firm has a market capitalization of $82.67 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

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

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is 33.44%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Mizuho boosted their price target on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Morgan Stanley upped their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cowen reissued a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Finally, TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price 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.