Means Investment CO. Inc. Sells 44 Shares of Cigna Group (NYSE:CI)

Means Investment CO. Inc. cut its stake in Cigna Group (NYSE:CI) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 908 shares of the health services provider’s stock after selling 44 shares during the quarter. Means Investment CO. Inc.’s holdings in Cigna Group were worth $299,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Cigna Group during the fourth quarter worth $867,785,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Cigna Group during the fourth quarter worth $724,517,000. GAMMA Investing LLC lifted its position in shares of Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after purchasing an additional 1,771,613 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Cigna Group during the fourth quarter worth $313,911,000. Finally, GQG Partners LLC lifted its position in shares of Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Price Performance

Shares of CI stock opened at $313.76 on Friday. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market capitalization of $83.82 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.93 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s 50-day simple moving average is $321.48 and its 200-day simple moving average is $307.79.

Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the firm earned $6.47 earnings per share. The company’s revenue was up 14.4% on a year-over-year basis. As a group, equities analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Analyst Ratings Changes

Several brokerages have recently commented on CI. Barclays restated an “overweight” rating and set a $385.00 price target (up previously from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Mizuho raised their price target on Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Piper Sandler raised their price target on Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Morgan Stanley raised their price target on Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Truist Financial raised their price target on Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $380.39.

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.