Cigna Group (NYSE:CI) Shares Sold by Motco

Motco lowered its stake in shares of Cigna Group (NYSE:CI) by 9.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,074 shares of the health services provider’s stock after selling 1,388 shares during the quarter. Motco’s holdings in Cigna Group were worth $4,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Putney Financial Group LLC acquired a new stake in shares of Cigna Group during the 4th quarter valued at approximately $36,000. Transce3nd LLC acquired a new position in shares of Cigna Group in the 4th quarter valued at about $38,000. Richardson Financial Services Inc. acquired a new position in shares of Cigna Group in the 1st quarter valued at about $38,000. Wayfinding Financial LLC acquired a new position in shares of Cigna Group in the 1st quarter valued at about $40,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Cigna Group in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Performance

CI opened at $296.36 on Friday. The company has a market capitalization of $79.17 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.89 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. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business has a 50 day moving average price of $312.53 and a two-hundred day moving average price of $311.87.

Cigna Group (NYSE:CI) last released its 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. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.47 earnings per share. Research analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.04%. Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Guggenheim reaffirmed a “buy” rating and issued a $388.00 price target on shares of Cigna Group in a report on Friday, May 23rd. Robert W. Baird reduced their price objective on Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Truist Financial boosted their price objective on Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Barclays restated an “overweight” rating and set a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Finally, Morgan Stanley boosted their price objective on Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $380.39.

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.