MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 2,851 Shares of Cigna Group (NYSE:CI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in Cigna Group (NYSE:CI - Free Report) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,524 shares of the health services provider's stock after selling 2,851 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Cigna Group were worth $7,081,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CI. TCTC Holdings LLC bought a new stake in Cigna Group during the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new position in Cigna Group during the 4th quarter worth $36,000. Compagnie Lombard Odier SCmA purchased a new position in Cigna Group during the 4th quarter worth $37,000. Transce3nd LLC bought a new stake in shares of Cigna Group in the 4th quarter worth $38,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Cigna Group in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Robert W. Baird dropped 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 report on Tuesday, April 15th. Morgan Stanley upped their target price on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Piper Sandler increased their price target on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Cantor Fitzgerald boosted their price objective on Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cigna Group presently has an average rating of "Buy" and an average target price of $380.39.

Cigna Group Stock Performance

Shares of NYSE CI traded up $1.83 during midday trading on Wednesday, hitting $314.34. The company's stock had a trading volume of 1,166,063 shares, compared to its average volume of 1,713,828. The firm 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. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $322.18 and a 200 day moving average price of $308.05. 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 released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same period last year, the business earned $6.47 earnings per share. Cigna Group's revenue was up 14.4% compared to the same quarter last year. On average, research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.92%. Cigna Group's payout ratio is 33.44%.

Cigna Group 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.