Lmcg Investments LLC Sells 3,511 Shares of The Cigna Group (NYSE:CI)

Lmcg Investments LLC decreased its holdings in The Cigna Group (NYSE:CI - Free Report) by 21.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,614 shares of the health services provider's stock after selling 3,511 shares during the quarter. Lmcg Investments LLC's holdings in The Cigna Group were worth $4,150,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Two Sigma Investments LP boosted its stake in The Cigna Group by 32.6% in the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after buying an additional 188,235 shares in the last quarter. Valley Wealth Managers Inc. boosted its stake in shares of The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Humankind Investments LLC boosted its stake in shares of The 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 purchasing an additional 571 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of The Cigna Group by 11.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 35,056 shares of the health services provider's stock worth $9,680,000 after purchasing an additional 3,484 shares during the last quarter. Finally, Aubrey Capital Management Ltd increased its position in shares of The Cigna Group by 91.8% during the 4th quarter. Aubrey Capital Management Ltd now owns 1,849 shares of the health services provider's stock worth $511,000 after purchasing an additional 885 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Up 0.2%

Shares of CI traded up $0.66 on Friday, reaching $311.68. 2,048,281 shares of the company's stock were exchanged, compared to its average volume of 1,694,020. The business has a 50 day moving average price of $323.77 and a two-hundred day moving average price of $309.22. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a market capitalization of $83.26 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.47 EPS. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 33.44%.

Insider Buying and Selling

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on CI shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $371.00 price objective on shares of The Cigna Group in a research note on Tuesday. Piper Sandler boosted their target price on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Robert W. Baird dropped their price target on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Morgan Stanley boosted their price objective on The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Guggenheim restated a "buy" rating and set a $388.00 target price on shares of The Cigna Group in a report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group has an average rating of "Buy" and a consensus target price of $380.39.

The 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.