The Cigna Group (NYSE:CI) Stock Position Cut by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in shares of The Cigna Group (NYSE:CI) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,203 shares of the health services provider’s stock after selling 390 shares during the period. Hartford Investment Management Co.’s holdings in The Cigna Group were worth $4,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Certuity LLC boosted its position in shares of The Cigna Group by 86.2% during the 4th quarter. Certuity LLC now owns 1,896 shares of the health services provider’s stock valued at $524,000 after purchasing an additional 878 shares in the last quarter. Portfolio Design Labs LLC boosted its holdings in shares of The Cigna Group by 59.1% during the fourth quarter. Portfolio Design Labs LLC now owns 8,073 shares of the health services provider’s stock worth $2,229,000 after purchasing an additional 3,000 shares during the period. Collier Financial acquired a new stake in shares of The Cigna Group during the fourth quarter worth approximately $32,000. Aubrey Capital Management Ltd boosted its holdings in shares of The Cigna Group by 91.8% during the fourth quarter. Aubrey Capital Management Ltd now owns 1,849 shares of the health services provider’s stock worth $511,000 after purchasing an additional 885 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of The Cigna Group by 10.3% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 8,376 shares of the health services provider’s stock worth $2,313,000 after purchasing an additional 784 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.9 %

Shares of NYSE CI opened at $295.46 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market cap of $82.18 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The firm’s 50-day simple moving average is $288.96 and its 200 day simple moving average is $322.16.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company earned $6.79 EPS. On average, research analysts expect that The Cigna Group will post 29.8 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.04%. The Cigna Group’s dividend payout ratio is 45.75%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CI shares. Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Stephens dropped their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Barclays dropped their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Finally, UBS Group lowered their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $373.69.

The 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.