Outfitter Financial LLC Reduces Stock Holdings in Cigna Group (NYSE:CI)

Outfitter Financial LLC decreased its position in Cigna Group (NYSE:CI) by 17.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,075 shares of the health services provider’s stock after selling 850 shares during the quarter. Outfitter Financial LLC’s holdings in Cigna Group were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Cigna Group by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock valued at $3,834,493,000 after purchasing an additional 98,715 shares during the period. Sanders Capital LLC boosted its position in Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock worth $2,224,296,000 after purchasing an additional 154,420 shares in the last quarter. Geode Capital Management LLC boosted its position in Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after purchasing an additional 101,737 shares in the last quarter. GQG Partners LLC boosted its position in 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 purchasing an additional 737,099 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Cigna Group in the fourth quarter valued at approximately $867,785,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Robert W. Baird cut their target price on Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Guggenheim restated a “buy” rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Piper Sandler raised their price target on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, Barclays restated an “overweight” rating and set a $385.00 price target (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $380.39.

Cigna Group Trading Down 0.6%

CI traded down $1.81 during trading on Friday, hitting $296.47. The company’s stock had a trading volume of 263,319 shares, compared to its average volume of 1,734,329. The firm’s 50 day moving average price is $314.51 and its 200-day moving average price is $311.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $79.20 billion, a PE ratio of 16.35, a PEG ratio of 0.91 and a beta of 0.44. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

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

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $1.51 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.04%. Cigna Group’s payout ratio is 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.