Oppenheimer & Co. Inc. Sells 2,383 Shares of Cigna Group (NYSE:CI)

Oppenheimer & Co. Inc. reduced its position in shares of Cigna Group (NYSE:CI - Free Report) by 18.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,779 shares of the health services provider's stock after selling 2,383 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Cigna Group were worth $3,546,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CI. TCTC Holdings LLC bought a new stake in shares of Cigna Group during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in Cigna Group in the 4th quarter valued at approximately $36,000. Transce3nd LLC purchased a new stake in Cigna Group during the 4th quarter valued at $38,000. Ameriflex Group Inc. bought a new stake in shares of Cigna Group in the 4th quarter worth $44,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Cigna Group in the fourth quarter worth $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Stock Performance

NYSE:CI traded down $0.10 during mid-day trading on Friday, hitting $329.90. 326,791 shares of the company traded hands, compared to its average volume of 1,798,328. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock's fifty day moving average price is $320.71 and its 200-day moving average price is $307.71. The firm has a market cap of $88.13 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44. Cigna Group has a one year low of $262.03 and a one year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The company had revenue of $65.45 billion during 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 revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $6.47 EPS. Research analysts anticipate 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 was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a dividend of $1.51 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.83%. Cigna Group's payout ratio is 33.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald upped their price target on Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Piper Sandler upped their target price on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Truist Financial raised their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday. Finally, TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus 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.