Northwest & Ethical Investments L.P. Decreases Stock Position in Cigna Group $CI

Key Points

• Northwest & Ethical Investments L.P. has decreased its holdings in Cigna Group by 66.0%, owning 17,840 shares worth $5,869,000 after selling 34,663 shares.
• Analysts maintain a generally positive outlook on Cigna Group, with a consensus rating of "Moderate Buy" and target prices ranging from $371 to $415.
• Cigna Group reported earnings of $7.20 per share for the latest quarter, exceeding estimates and showing an 11.0% increase in revenue year-over-year, totaling $67.13 billion.

Northwest & Ethical Investments L.P. cut its holdings in Cigna Group (NYSE:CI - Free Report) by 66.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,840 shares of the health services provider's stock after selling 34,663 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Cigna Group were worth $5,869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new position in Cigna Group in the 4th quarter valued at about $36,000. Evermay Wealth Management LLC lifted its holdings in shares of Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after acquiring an additional 41 shares during the period. Transce3nd LLC purchased a new position in shares of Cigna Group during the 4th quarter worth about $38,000. Richardson Financial Services Inc. purchased a new position in shares of Cigna Group during the 1st quarter worth about $38,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Cigna Group during the 1st quarter worth about $40,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CI has been the topic of several recent analyst reports. Cowen reiterated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a research report on Thursday. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cigna Group presently has a consensus rating of "Moderate Buy" and an average target price of $378.33.

Cigna Group Stock Up 2.3%

CI stock opened at $297.02 on Monday. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $79.28 billion, a P/E ratio of 16.21, a PEG ratio of 0.87 and a beta of 0.47. The firm has a 50 day simple moving average of $302.03 and a 200-day simple moving average of $311.33.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter last year, the company earned $6.72 earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group's dividend payout ratio (DPR) is 32.97%.

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.

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