The Cigna Group (NYSE:CI) Position Trimmed by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its holdings in shares of The Cigna Group (NYSE:CI) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,827 shares of the health services provider’s stock after selling 48 shares during the period. Cigna Investments Inc. New’s holdings in The Cigna Group were worth $780,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sterling Financial Group Inc. acquired a new position in shares of The Cigna Group during the fourth quarter valued at $4,367,000. Marks Group Wealth Management Inc boosted its holdings in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares during the period. Trinity Street Asset Management LLP boosted its holdings in shares of The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after acquiring an additional 5,397 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after acquiring an additional 858 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock opened at $292.74 on Tuesday. The stock has a 50-day simple moving average of $289.85 and a 200 day simple moving average of $322.50. 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 stock has a market capitalization of $81.42 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly 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 period in the prior year, the firm earned $6.79 earnings per share. On average, research analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.06%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Morgan Stanley reduced their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Raymond James reissued a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $373.69.

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.