Benjamin F. Edwards & Company Inc. lessened its stake in The Cigna Group (NYSE:CI – Free Report) by 37.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,546 shares of the health services provider’s stock after selling 932 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in The Cigna Group were worth $395,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its position in The Cigna Group by 154,255.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after buying an additional 11,947,096 shares during the period. Norges Bank acquired a new position in shares of The Cigna Group in the 4th quarter valued at $963,542,000. Edmp Inc. raised its position in The Cigna Group by 32,426.5% in the 4th quarter. Edmp Inc. now owns 1,606,807 shares of the health services provider’s stock valued at $4,849,000 after purchasing an additional 1,601,867 shares during the last quarter. Nordea Investment Management AB boosted its stake in The Cigna Group by 18.9% during the 1st quarter. Nordea Investment Management AB now owns 2,490,969 shares of the health services provider’s stock worth $635,446,000 after purchasing an additional 396,176 shares during the period. Finally, Bank of New York Mellon Corp grew its position in The Cigna Group by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock worth $862,423,000 after purchasing an additional 268,793 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on CI shares. Royal Bank of Canada dropped their price target on The Cigna Group from $333.00 to $287.00 in a research report on Monday, May 8th. Stephens reaffirmed an “overweight” rating and set a $370.00 price objective on shares of The Cigna Group in a research note on Tuesday, March 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Cigna Group from $348.00 to $310.00 in a research note on Monday, May 8th. Truist Financial reduced their price objective on The Cigna Group from $375.00 to $365.00 in a research note on Tuesday, June 20th. Finally, Wells Fargo & Company dropped their target price on The Cigna Group from $355.00 to $284.00 in a research report on Monday, May 8th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $333.00.
Insider Buying and Selling
The Cigna Group Price Performance
Shares of NYSE:CI opened at $281.23 on Tuesday. The stock has a fifty day moving average of $265.84 and a 200-day moving average of $276.95. The company has a market capitalization of $83.21 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.02 and a beta of 0.65. The Cigna Group has a one year low of $240.50 and a one year high of $340.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71.
The Cigna Group (NYSE:CI – Get Free Report) last posted its quarterly earnings results on Friday, May 5th. The health services provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.18. The firm had revenue of $46.52 billion for the quarter, compared to analyst estimates of $45.43 billion. The Cigna Group had a return on equity of 12.65% and a net margin of 3.69%. The Cigna Group’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.01 earnings per share. As a group, equities analysts anticipate that The Cigna Group will post 24.81 EPS for the current fiscal year.
The Cigna Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Wednesday, June 7th were paid a dividend of $1.23 per share. The ex-dividend date was Tuesday, June 6th. This represents a $4.92 annualized dividend and a yield of 1.75%. The Cigna Group’s dividend payout ratio is 22.42%.
The 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.
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