Cigna Group (NYSE:CI) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. lessened its holdings in shares of Cigna Group (NYSE:CI) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,472 shares of the health services provider’s stock after selling 178 shares during the period. Scotia Capital Inc.’s holdings in Cigna Group were worth $5,090,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Two Sigma Investments LP raised its stake in Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock valued at $211,219,000 after buying an additional 188,235 shares during the last quarter. Humankind Investments LLC raised its position in shares of Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock valued at $1,462,000 after purchasing an additional 571 shares during the last quarter. NBC Securities Inc. acquired a new stake in Cigna Group in the 1st quarter worth approximately $123,000. SBI Securities Co. Ltd. grew its position in Cigna Group by 18.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider’s stock worth $131,000 after purchasing an additional 63 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Cigna Group by 79.0% during the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock valued at $1,775,000 after purchasing an additional 2,381 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Up 1.9%

Shares of CI opened at $267.26 on Tuesday. The firm has a market cap of $71.34 billion, a P/E ratio of 14.59, a PEG ratio of 0.79 and a beta of 0.47. Cigna Group has a 12 month low of $256.89 and a 12 month high of $370.83. The stock’s 50 day moving average is $307.92 and its two-hundred day moving average is $312.21. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to analysts’ expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.72 EPS. Analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 4th. Cigna Group’s dividend payout ratio is 32.97%.

Wall Street Analyst Weigh In

CI has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Truist Financial boosted 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. Cowen reissued a “buy” rating on shares of Cigna Group in a report on Monday, May 5th. Barclays decreased their target price on Cigna Group from $385.00 to $354.00 and set an “overweight” rating for the company in a report on Friday. Finally, Robert W. Baird cut their price target on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $376.56.

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.