Pzena Investment Management LLC Has $157.08 Million Position in Cigna Group (NYSE:CI)

Pzena Investment Management LLC reduced its position in shares of Cigna Group (NYSE:CI - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 477,460 shares of the health services provider's stock after selling 13,999 shares during the period. Pzena Investment Management LLC owned about 0.17% of Cigna Group worth $157,084,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI increased its stake in shares of Cigna Group by 21.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,049 shares of the health services provider's stock worth $3,307,000 after buying an additional 1,804 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in Cigna Group by 4.1% during the first quarter. Kingsview Wealth Management LLC now owns 36,493 shares of the health services provider's stock valued at $12,006,000 after purchasing an additional 1,437 shares during the last quarter. Bailard Inc. increased its stake in Cigna Group by 8.5% during the first quarter. Bailard Inc. now owns 5,386 shares of the health services provider's stock valued at $1,772,000 after purchasing an additional 423 shares during the last quarter. Graypoint LLC increased its stake in Cigna Group by 10.9% during the first quarter. Graypoint LLC now owns 2,727 shares of the health services provider's stock valued at $897,000 after purchasing an additional 268 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in Cigna Group by 2.9% during the first quarter. Verdence Capital Advisors LLC now owns 2,307 shares of the health services provider's stock valued at $759,000 after purchasing an additional 64 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on CI shares. Cowen reiterated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Cantor Fitzgerald boosted their target price on shares of Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Robert W. Baird lowered their price target on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $380.39.

Cigna Group Trading Down 2.5%

NYSE CI traded down $7.54 on Thursday, hitting $298.28. 1,696,422 shares of the company were exchanged, compared to its average volume of 1,739,813. The company's 50 day moving average price is $315.21 and its 200-day moving average price is $310.90. 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 firm has a market capitalization of $79.68 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm 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 business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.47 EPS. Analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal 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 issued a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.02%. Cigna Group's dividend payout ratio is 33.44%.

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.