Cigna Group (NYSE:CI) Position Cut by Nilsine Partners LLC

Nilsine Partners LLC trimmed its holdings in Cigna Group (NYSE:CI) by 63.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 974 shares of the health services provider’s stock after selling 1,708 shares during the quarter. Nilsine Partners LLC’s holdings in Cigna Group were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased 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 purchasing an additional 501,320 shares during the period. Sanders Capital LLC increased 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 purchasing an additional 154,420 shares during the period. Geode Capital Management LLC increased its position in shares of Cigna Group by 1.7% during the 4th 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 purchasing an additional 101,737 shares during the period. GQG Partners LLC increased its position in shares of Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the period. Finally, Norges Bank acquired a new position in shares of Cigna Group during the 4th quarter valued at $867,785,000. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CI shares. Cowen reiterated a “buy” rating on shares of Cigna Group in a research report on Monday, May 5th. Mizuho lifted their price target on Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Cantor Fitzgerald raised their price objective on Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a research note on Tuesday, June 3rd. Finally, Wall Street Zen raised Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $380.39.

Cigna Group Price Performance

CI opened at $313.76 on Monday. The stock has a fifty day moving average of $321.48 and a 200-day moving average of $307.53. The firm has a market capitalization of $83.82 billion, a P/E ratio of 17.37, a PEG ratio of 0.93 and a beta of 0.44. Cigna Group has a 12-month low of $262.03 and a 12-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.

Cigna Group (NYSE:CI) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.47 earnings per share. Equities analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a $1.51 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. Cigna Group’s payout ratio is currently 33.44%.

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.