PKO Investment Management Joint Stock Co cut its position in shares of Cigna Group (NYSE:CI - Free Report) by 17.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,200 shares of the health services provider's stock after selling 2,000 shares during the period. PKO Investment Management Joint Stock Co's holdings in Cigna Group were worth $3,027,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Cigna Group in the 4th quarter worth approximately $867,785,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Cigna Group in the 4th quarter worth approximately $724,517,000. GAMMA Investing LLC lifted its holdings in shares of Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after acquiring an additional 1,771,613 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Cigna Group in the 4th quarter worth approximately $313,911,000. Finally, GQG Partners LLC lifted its holdings in shares of Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.
Cigna Group Stock Up 0.6%
Shares of NYSE:CI traded up $1.83 during trading hours on Thursday, reaching $314.34. The stock had a trading volume of 1,170,259 shares, compared to its average volume of 1,715,859. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm's 50 day moving average is $321.79 and its 200-day moving average is $307.93. 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 stock has a market capitalization of $83.97 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 0.93 and a beta of 0.44.
Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) 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 business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the prior year, the business posted $6.47 EPS. The company's revenue for the quarter was up 14.4% on a year-over-year basis. Research analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.
Cigna Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is 33.44%.
Analyst Ratings Changes
CI has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Mizuho upped their target price on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Robert W. Baird cut their target price 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. Barclays reaffirmed an "overweight" rating and set a $385.00 target price (up from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Finally, Piper Sandler upped their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two investment 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 currently has an average rating of "Buy" and a consensus target price of $380.39.
View Our Latest Analysis on CI
Cigna Group Profile
(
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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