Cottonwood Capital Advisors LLC Sells 191 Shares of Cigna Group (NYSE:CI)

Cottonwood Capital Advisors LLC lessened its stake in Cigna Group (NYSE:CI) by 11.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,438 shares of the health services provider’s stock after selling 191 shares during the quarter. Cottonwood Capital Advisors LLC’s holdings in Cigna Group were worth $473,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Cigna Group during the 4th quarter worth $867,785,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Cigna Group during the fourth quarter worth about $724,517,000. GAMMA Investing LLC increased its holdings 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 valued at $583,852,000 after acquiring an additional 1,771,613 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cigna Group in the 4th quarter valued at approximately $313,911,000. Finally, GQG Partners LLC boosted its stake in Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Stock Performance

Shares of CI stock opened at $315.51 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The business’s 50 day moving average is $320.73 and its two-hundred day moving average is $307.64. The company has a market capitalization of $84.29 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.94 and a beta of 0.44.

Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the company posted $6.47 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts expect 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. Stockholders of record on Tuesday, June 3rd were given a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CI shares. 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 Tuesday, June 3rd. Barclays reissued an “overweight” rating and issued a $385.00 target price (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Wall Street Zen raised Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Mizuho increased their price objective on Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, Cantor Fitzgerald upped their target price on Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price 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.