Wealth Enhancement Advisory Services LLC cut its stake in shares of Cigna Group (NYSE:CI – Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,609 shares of the health services provider’s stock after selling 11,038 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Cigna Group were worth $30,140,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of CI. Norges Bank purchased a new position in shares of Cigna Group during the fourth quarter worth approximately $867,785,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Cigna Group during the fourth quarter worth approximately $724,517,000. GAMMA Investing LLC increased its position in shares of Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after acquiring an additional 1,771,613 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Cigna Group during the fourth quarter worth approximately $313,911,000. Finally, GQG Partners LLC increased its position in shares of Cigna Group by 22.4% during 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. 86.99% of the stock is owned by hedge funds and other institutional investors.
Cigna Group Price Performance
Shares of CI opened at $313.76 on Friday. The company has a market cap of $83.82 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $321.48 and a two-hundred day moving average of $307.79.
Cigna Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. Cigna Group’s payout ratio is currently 33.44%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on CI. Royal Bank Of Canada reiterated an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a research note on Tuesday, June 3rd. Mizuho increased their price objective on shares of Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Cantor Fitzgerald increased their price objective on shares of Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Robert W. Baird dropped their price objective on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Guggenheim reiterated a “buy” rating and set a $388.00 price objective on shares of Cigna Group in a research note on Friday, May 23rd. Two 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, Cigna Group has an average rating of “Buy” and an average price target of $380.39.
View Our Latest Stock Report on Cigna Group
Cigna Group Company 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.
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