Nisa Investment Advisors LLC decreased its stake in shares of 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.
Other hedge funds have also made changes to their positions in the company. Family Legacy Inc. grew its holdings in shares of Cigna Group by 0.5% during the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock worth $2,138,000 after purchasing an additional 31 shares in the last quarter. Impact Investors Inc raised its position in Cigna Group by 1.6% in the 1st 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 during the last quarter. Mission Wealth Management LP raised 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 purchasing an additional 32 shares during the last quarter. Westend Capital Management LLC raised its position in Cigna Group by 8.1% in the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares during the last quarter. Finally, Moody National Bank Trust Division raised its position in Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.
Analyst Upgrades and Downgrades
CI has been the subject of a number of recent research reports. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Robert W. Baird decreased their target price on Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Truist Financial upped their target price on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Finally, Piper Sandler upped their price objective on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $380.39.
View Our Latest Analysis on Cigna Group
Cigna Group Price Performance
NYSE:CI traded down $1.31 during trading hours on Thursday, reaching $308.48. 989,330 shares of the company were exchanged, compared to its average volume of 1,736,091. The company has a market capitalization of $82.41 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.92 and a beta of 0.44. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50 day moving average of $317.65 and a 200 day moving average of $310.26.
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, topping analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.47 earnings per share. Research analysts forecast that Cigna Group will post 29.77 EPS for the current year.
Cigna Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's dividend payout ratio is presently 33.44%.
About Cigna Group
(
Free Report)
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.
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