HB Wealth Management LLC Has $2.75 Million Stake in The Cigna Group (NYSE:CI)

HB Wealth Management LLC decreased its position in The Cigna Group (NYSE:CI) by 3.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,971 shares of the health services provider’s stock after selling 342 shares during the period. HB Wealth Management LLC’s holdings in The Cigna Group were worth $2,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Benjamin F. Edwards & Company Inc. lifted its position in The Cigna Group by 1.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after buying an additional 31 shares in the last quarter. IFG Advisors LLC lifted its position in The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after buying an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. lifted its position in The Cigna Group by 4.7% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares in the last quarter. SPC Financial Inc. lifted its position in The Cigna Group by 0.7% in the 2nd quarter. SPC Financial Inc. now owns 5,119 shares of the health services provider’s stock worth $1,692,000 after buying an additional 34 shares in the last quarter. Finally, Castle Rock Wealth Management LLC lifted its position in The Cigna Group by 0.5% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock worth $2,263,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $284.16 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 0.75 and a beta of 0.54. The company’s fifty day moving average is $301.37 and its two-hundred day moving average is $326.79. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the business posted $6.77 EPS. Equities research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Truist Financial cut their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Barclays raised their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $395.93.

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.