Oppenheimer & Co. Inc. Lowers Holdings in Cigna Group (NYSE:CI)

Oppenheimer & Co. Inc. trimmed its holdings in Cigna Group (NYSE:CI) by 18.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,779 shares of the health services provider’s stock after selling 2,383 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cigna Group were worth $3,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Mission Wealth Management LP boosted its holdings in Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider’s stock worth $691,000 after buying an additional 32 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock worth $1,509,000 after buying an additional 34 shares during the last quarter. Kesler Norman & Wride LLC boosted its holdings in Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after buying an additional 35 shares during the last quarter. Wynn Capital LLC boosted its holdings in Cigna Group by 1.0% in the 1st quarter. Wynn Capital LLC now owns 3,451 shares of the health services provider’s stock worth $1,135,000 after buying an additional 35 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Cigna Group by 2.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider’s stock worth $535,000 after buying an additional 36 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CI shares. Wall Street Zen upgraded Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Cantor Fitzgerald boosted their target price on Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Royal Bank Of Canada restated an “outperform” rating and set a $371.00 target price on shares of Cigna Group in a report on Tuesday, June 3rd. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a report on Monday. Finally, Barclays restated an “overweight” rating and set a $385.00 target price (up from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $380.39.

Cigna Group Stock Down 0.4%

Shares of NYSE CI opened at $315.51 on Thursday. The firm has a market cap of $84.29 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 0.94 and a beta of 0.44. 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 has a 52-week low of $262.03 and a 52-week high of $370.83. The business’s 50 day moving average is $320.73 and its two-hundred day moving average is $307.64.

Cigna Group (NYSE:CI) last announced 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 for 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 firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.47 earnings per share. Research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, June 3rd. 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.