Cigna Group (NYSE:CI) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its stake in shares of Cigna Group (NYSE:CI) by 8.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 758 shares of the health services provider’s stock after selling 74 shares during the period. International Assets Investment Management LLC’s holdings in Cigna Group were worth $249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock valued at $3,191,151,000 after acquiring an additional 501,320 shares during the last quarter. Sanders Capital LLC raised its position in shares of Cigna Group by 2.0% during the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock valued at $2,224,296,000 after buying an additional 154,420 shares during the period. Geode Capital Management LLC lifted its holdings in Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock valued at $1,640,878,000 after acquiring an additional 101,737 shares during the last quarter. GQG Partners LLC grew its position in Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the period. Finally, Norges Bank acquired a new stake in Cigna Group during the fourth quarter worth $867,785,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Stock Performance

Cigna Group stock opened at $326.68 on Friday. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 company has a market capitalization of $87.27 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. The firm’s fifty day moving average price is $320.64 and its 200 day moving average price is $307.81.

Cigna Group (NYSE:CI) last released its quarterly 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 business had revenue of $65.45 billion during 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 business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $6.47 earnings per share. On average, research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CI shares. Truist Financial lifted their target price on Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a report on Monday, May 12th. Mizuho increased their target price on Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Cowen reaffirmed a “buy” rating on shares of Cigna Group in a report on Monday, May 5th. 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. Finally, Guggenheim restated a “buy” rating and set a $388.00 target price on shares of Cigna Group in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.