Deroy & Devereaux Private Investment Counsel Inc. Trims Holdings in Cigna Group (NYSE:CI)

Deroy & Devereaux Private Investment Counsel Inc. decreased its stake in shares of Cigna Group (NYSE:CI) by 0.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 75,303 shares of the health services provider’s stock after selling 534 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Cigna Group were worth $24,775,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CI. TCTC Holdings LLC bought a new position in shares of Cigna Group in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in Cigna Group in the 4th quarter valued at $36,000. Transce3nd LLC purchased a new position in shares of Cigna Group during the 4th quarter valued at $38,000. Ameriflex Group Inc. bought a new position in shares of Cigna Group in the fourth quarter worth $44,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Cigna Group in the fourth quarter worth $53,000. Institutional investors own 86.99% of the company’s stock.

Cigna Group Trading Down 0.3%

NYSE:CI opened at $319.48 on Friday. The firm has a market capitalization of $85.34 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.95 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. The company has a fifty day moving average of $320.06 and a 200 day moving average of $309.00. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

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

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Tuesday, June 3rd. Cigna Group’s payout ratio is 33.44%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank Of Canada restated an “outperform” rating and set a $371.00 target price on shares of Cigna Group in a research report on Thursday, June 26th. Wall Street Zen raised shares of Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Guggenheim reissued a “buy” rating and issued a $388.00 price target on shares of Cigna Group in a research note on Friday, May 23rd. Barclays reissued an “overweight” rating and issued a $385.00 price target (up previously from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Finally, Truist Financial lifted their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $380.39.

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.