MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 2,282 Shares of The Cigna Group (NYSE:CI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in shares of The Cigna Group (NYSE:CI) by 12.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,791 shares of the health services provider’s stock after selling 2,282 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in The Cigna Group were worth $5,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CI. Sanders Capital LLC increased its holdings in The Cigna Group by 1.3% in the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after buying an additional 97,277 shares during the period. Morgan Stanley increased its holdings in The Cigna Group by 4.7% in the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after acquiring an additional 225,115 shares in the last quarter. Norges Bank acquired a new stake in The Cigna Group in the 4th quarter worth about $1,006,348,000. Parnassus Investments LLC increased its position in shares of The Cigna Group by 5.0% during the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock worth $803,143,000 after purchasing an additional 126,598 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of The Cigna Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock valued at $592,451,000 after buying an additional 53,414 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $0.36 during midday trading on Tuesday, reaching $325.91. 1,055,980 shares of the company were exchanged, compared to its average volume of 1,616,524. The stock has a market cap of $92.58 billion, a P/E ratio of 26.73, a PEG ratio of 1.01 and a beta of 0.52. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The stock has a fifty day simple moving average of $340.69 and a 200 day simple moving average of $333.60. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.41 earnings per share. On average, research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CI shares. Oppenheimer lifted their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird started coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Piper Sandler initiated coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $376.20.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold a total of 22,988 shares of company stock valued at $7,975,726 in the last ninety days. 0.70% of the stock is currently owned by company insiders.

The 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.