LSV Asset Management Decreases Holdings in Cigna Group (NYSE:CI)

LSV Asset Management decreased its position in shares of Cigna Group (NYSE:CI) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,550 shares of the health services provider’s stock after selling 29,160 shares during the quarter. LSV Asset Management’s holdings in Cigna Group were worth $187,382,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CI. Massachusetts Financial Services Co. MA lifted its stake in Cigna Group by 0.9% in the 1st 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 buying an additional 98,715 shares in the last quarter. Sanders Capital LLC lifted its stake in Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock valued at $2,224,296,000 after buying an additional 154,420 shares in the last quarter. Northern Trust Corp lifted its stake in Cigna Group by 11.7% in the 4th quarter. Northern Trust Corp now owns 3,140,201 shares of the health services provider’s stock valued at $867,135,000 after buying an additional 328,320 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Cigna Group in the 4th quarter valued at approximately $724,517,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cigna Group by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,592 shares of the health services provider’s stock valued at $689,133,000 after buying an additional 326,633 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Stock Down 1.9%

Shares of NYSE CI opened at $262.26 on Friday. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The company has a market cap of $70.06 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.81 and a beta of 0.47. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $308.90 and a 200 day moving average price of $311.92.

Cigna Group (NYSE:CI) last posted 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. The company had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $6.72 EPS. Research analysts anticipate that Cigna Group will post 29.77 EPS 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. Shareholders of record on Thursday, September 4th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group’s dividend payout ratio is presently 33.44%.

Analysts Set New Price Targets

CI has been the subject of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Guggenheim reiterated a “buy” rating and issued a $388.00 price target on shares of Cigna Group in a report on Friday, May 23rd. Piper Sandler boosted their price target on Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Wall Street Zen downgraded Cigna Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Barclays cut their price target on Cigna Group from $385.00 to $354.00 and set an “overweight” rating for the company in a report on Friday. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $378.67.

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.