Cigna Group (NYSE:CI) Stock Holdings Lowered by Cortland Associates Inc. MO

Cortland Associates Inc. MO reduced its stake in shares of Cigna Group (NYSE:CI) by 0.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 126,581 shares of the health services provider’s stock after selling 363 shares during the period. Cigna Group makes up 5.0% of Cortland Associates Inc. MO’s holdings, making the stock its 8th biggest holding. Cortland Associates Inc. MO’s holdings in Cigna Group were worth $41,645,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CI. TCTC Holdings LLC purchased a new stake in shares of Cigna Group during the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in shares of Cigna Group during the 4th quarter valued at about $36,000. Transce3nd LLC purchased a new stake in Cigna Group during the 4th quarter worth approximately $38,000. Wayfinding Financial LLC purchased a new stake in Cigna Group during the 1st quarter worth approximately $40,000. Finally, Ameriflex Group Inc. purchased a new stake in Cigna Group during the 4th quarter worth approximately $44,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on CI shares. Wall Street Zen upgraded Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Cowen restated a “buy” rating on shares of Cigna Group in a report on Monday, May 5th. Piper Sandler lifted their price objective on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Truist Financial lifted their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, Robert W. Baird dropped their price objective on Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $380.39.

Cigna Group Trading Down 2.0%

NYSE:CI opened at $302.71 on Friday. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market capitalization of $80.86 billion, a P/E ratio of 16.76, a P/E/G ratio of 0.92 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50 day simple moving average of $317.02 and a 200 day simple moving average of $310.41.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the firm posted $6.47 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.51 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 2.00%. Cigna Group’s dividend payout ratio is currently 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.