Cigna Group (NYSE:CI) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. trimmed its position in shares of Cigna Group (NYSE:CI) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,909 shares of the health services provider’s stock after selling 131 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Cigna Group were worth $1,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC acquired a new position in Cigna Group during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new position in Cigna Group during the fourth quarter worth about $36,000. Transce3nd LLC acquired a new position in Cigna Group during the fourth quarter worth about $38,000. Ameriflex Group Inc. acquired a new position in Cigna Group during the fourth quarter worth about $44,000. Finally, Heck Capital Advisors LLC acquired a new position in Cigna Group during the fourth quarter worth about $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Stock Performance

Shares of CI opened at $326.68 on Friday. 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 company has a market capitalization of $87.27 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.98 and a beta of 0.44. The company’s 50 day simple moving average is $320.64 and its 200 day simple moving average is $307.81. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.47 earnings per share. On average, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, June 3rd. Cigna Group’s dividend payout ratio is currently 33.44%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CI. Piper Sandler upped their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Cantor Fitzgerald upped their target price on shares of Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Morgan Stanley upped their target price on shares of Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Truist Financial upped their target price on shares of Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Finally, Mizuho upped their price target on shares of Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $380.39.

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.