Cigna Group (NYSE:CI) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. decreased its holdings in shares of Cigna Group (NYSE:CI) by 16.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,070 shares of the health services provider’s stock after selling 400 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Cigna Group were worth $681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Brighton Jones LLC increased its stake in Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after acquiring an additional 318 shares during the last quarter. Wellington Management Group LLP increased its stake in Cigna Group by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider’s stock worth $4,658,000 after acquiring an additional 1,689 shares during the last quarter. World Investment Advisors increased its stake in Cigna Group by 115.7% during the fourth quarter. World Investment Advisors now owns 3,495 shares of the health services provider’s stock worth $965,000 after acquiring an additional 1,875 shares during the last quarter. Perennial Investment Advisors LLC increased its stake in Cigna Group by 6.4% during the fourth quarter. Perennial Investment Advisors LLC now owns 971 shares of the health services provider’s stock worth $268,000 after acquiring an additional 58 shares during the last quarter. Finally, Employees Retirement System of Texas increased its stake in Cigna Group by 19.8% during the fourth quarter. Employees Retirement System of Texas now owns 35,432 shares of the health services provider’s stock worth $9,784,000 after acquiring an additional 5,867 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CI shares. Guggenheim cut their target price on Cigna Group from $388.00 to $350.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Robert W. Baird decreased their price target on Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley upped their price target on Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Barclays decreased 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. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.56.

Cigna Group Stock Performance

NYSE:CI opened at $267.26 on Tuesday. The company has a fifty day simple moving average of $307.92 and a two-hundred day simple moving average of $312.21. The company has a market cap of $71.34 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.79 and a beta of 0.47. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83.

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

Cigna Group Dividend Announcement

The company also recently disclosed 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 4th. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.

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.