NFP Retirement Inc. Has $321,000 Position in Cigna Group (NYSE:CI)

NFP Retirement Inc. cut its stake in shares of Cigna Group (NYSE:CI) by 13.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 975 shares of the health services provider’s stock after selling 155 shares during the quarter. NFP Retirement Inc.’s holdings in Cigna Group were worth $321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. National Pension Service lifted its stake in shares of Cigna Group by 6.2% in the 1st quarter. National Pension Service now owns 667,860 shares of the health services provider’s stock valued at $219,726,000 after purchasing an additional 38,993 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in shares of Cigna Group by 5.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 95,062 shares of the health services provider’s stock valued at $31,219,000 after purchasing an additional 5,188 shares during the period. Callan Family Office LLC lifted its stake in shares of Cigna Group by 1.2% in the 1st quarter. Callan Family Office LLC now owns 9,527 shares of the health services provider’s stock valued at $3,134,000 after purchasing an additional 115 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Cigna Group in the 1st quarter valued at about $66,000. Finally, Capital Planning Advisors LLC lifted its stake in shares of Cigna Group by 5.9% in the 1st quarter. Capital Planning Advisors LLC now owns 848 shares of the health services provider’s stock valued at $279,000 after purchasing an additional 47 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent analyst reports. TD Cowen raised Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Guggenheim reissued a “buy” rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Wall Street Zen downgraded Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Barclays dropped their price target on Cigna Group from $385.00 to $354.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Three investment 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 stock. According to MarketBeat, Cigna Group currently has an average rating of “Moderate Buy” and an average target price of $377.72.

Cigna Group Stock Performance

Shares of CI opened at $286.96 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day moving average price of $302.73 and a two-hundred day moving average price of $311.22. The firm has a market capitalization of $76.60 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.82 and a beta of 0.47. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83.

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

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio is currently 32.97%.

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.