Cigna Group (NYSE:CI) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion reduced its position in Cigna Group by 6.1%, owning 15,843 shares worth approximately $5.07 million after selling 1,034 shares in Q1.
• Cigna reported a quarterly earnings per share of $7.20, surpassing analysts' estimates and showing a year-over-year revenue increase of 11.0% to $67.13 billion.
• The company declared a quarterly dividend of $1.51 per share, with a yield of 2.1%, set to be paid on September 18th to shareholders on record by September 4th.

Sienna Gestion decreased its position in Cigna Group (NYSE:CI - Free Report) by 6.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,843 shares of the health services provider's stock after selling 1,034 shares during the period. Sienna Gestion's holdings in Cigna Group were worth $5,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Two Sigma Investments LP increased its stake in shares of Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after purchasing an additional 188,235 shares in the last quarter. Humankind Investments LLC raised its holdings in Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after acquiring an additional 571 shares during the last quarter. NBC Securities Inc. acquired a new stake in Cigna Group in the 1st quarter valued at about $123,000. SBI Securities Co. Ltd. raised its holdings in Cigna Group by 18.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock valued at $131,000 after acquiring an additional 63 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Cigna Group by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 113,584 shares of the health services provider's stock valued at $37,369,000 after acquiring an additional 2,614 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Stock Performance

Shares of CI stock traded up $6.67 during mid-day trading on Friday, hitting $297.02. The stock had a trading volume of 2,918,002 shares, compared to its average volume of 2,115,989. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $370.83. The firm has a market cap of $79.28 billion, a PE ratio of 16.21, a PEG ratio of 0.87 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The company's 50-day simple moving average is $302.03 and its 200-day simple moving average is $311.13.

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

Cigna Group Dividend Announcement

The business 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 $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group's dividend payout ratio (DPR) is 32.97%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CI shares. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Cowen restated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Guggenheim restated a "buy" rating and issued a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $378.33.

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.