Cigna Group (NYSE:CI) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lowered its position in shares of Cigna Group (NYSE:CI) by 7.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,650 shares of the health services provider’s stock after selling 141 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cigna Group were worth $543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. acquired a new position in shares of Cigna Group in the 4th quarter valued at about $724,517,000. Nuveen LLC acquired a new position in shares of Cigna Group in the 1st quarter valued at about $727,905,000. GAMMA Investing LLC lifted its holdings in shares of Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock valued at $583,852,000 after buying an additional 1,771,613 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Cigna Group by 278.0% in the 4th quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider’s stock valued at $225,385,000 after buying an additional 600,300 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Cigna Group by 400.9% in the 4th quarter. Voloridge Investment Management LLC now owns 643,253 shares of the health services provider’s stock valued at $177,628,000 after buying an additional 514,841 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CI shares. Piper Sandler boosted their price objective on Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a report on Monday, May 5th. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Wall Street Zen lowered Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Guggenheim restated a “buy” rating and issued a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Morgan Stanley lifted their price target on Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.72.

Cigna Group Trading Up 2.3%

Shares of Cigna Group stock opened at $286.96 on Thursday. The stock has a market cap 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. The stock’s 50 day simple moving average is $302.73 and its 200-day simple moving average is $311.22. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

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

Cigna Group Announces Dividend

The business 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 dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, September 4th. Cigna Group’s 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.