Red Door Wealth Management LLC Sells 2,064 Shares of Cigna Group (NYSE:CI)

by · The Cerbat Gem

Red Door Wealth Management LLC reduced its position in shares of Cigna Group (NYSE:CI – Free Report) by 60.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,332 shares of the health services provider’s stock after selling 2,064 shares during the period. Red Door Wealth Management LLC’s holdings in Cigna Group were worth $438,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Cigna Group during the fourth quarter worth about $867,785,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Cigna Group in the fourth quarter valued at approximately $724,517,000. GAMMA Investing LLC boosted its holdings in shares of Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after acquiring an additional 1,771,613 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Cigna Group during the 4th quarter worth approximately $313,911,000. Finally, GQG Partners LLC grew its position in Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Cigna Group Trading Down 1.0%

CI opened at $326.68 on Monday. The firm has a 50 day simple moving average of $320.64 and a 200 day simple moving average of $308.08. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a market cap of $87.27 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 0.97 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72.

Cigna Group (NYSE:CI – Get Free Report) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.47 EPS. On average, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid 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 1.85%. Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Analyst Upgrades and Downgrades

CI has been the subject of several research analyst reports. Barclays reiterated an “overweight” rating and issued a $385.00 price objective (up previously from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Guggenheim reiterated a “buy” rating and set a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday. Finally, Cantor Fitzgerald raised their price objective on shares of Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Two research 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. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $380.39.

View Our Latest Report on CI

About Cigna Group

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI – Free Report).