Cigna Group (NYSE:CI) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its holdings in Cigna Group (NYSE:CI) by 18.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 10,779 shares of the health services provider’s stock after selling 2,383 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cigna Group were worth $3,546,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its stake in shares of Cigna Group by 4.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after acquiring an additional 501,320 shares in the last quarter. Sanders Capital LLC grew its stake in shares of Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock worth $2,224,296,000 after purchasing an additional 154,420 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after purchasing an additional 101,737 shares in the last quarter. GQG Partners LLC grew its stake 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 in the last quarter. Finally, Norges Bank acquired a new position in shares of Cigna Group during the fourth quarter worth $867,785,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of analyst reports. Barclays reiterated an “overweight” rating and set a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Guggenheim restated a “buy” rating and issued a $388.00 price objective on shares of Cigna Group in a research note on Friday, May 23rd. Truist Financial upped their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Mizuho upped their price objective on shares of Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Finally, Morgan Stanley upped their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $380.39.

Cigna Group Price Performance

Shares of NYSE:CI opened at $315.51 on Thursday. The company has a 50-day simple moving average of $320.73 and a 200-day simple moving average of $307.64. Cigna Group has a one year low of $262.03 and a one year high of $370.83. 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 has a market capitalization of $84.29 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 0.94 and a beta of 0.44.

Cigna Group (NYSE:CI) last announced its earnings results 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. The business had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $6.47 earnings per share. On average, analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently declared 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. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.91%. Cigna Group’s dividend payout ratio is currently 33.44%.

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.