Forvis Mazars Wealth Advisors LLC Has $651,000 Holdings in The Cigna Group (NYSE:CI)

Forvis Mazars Wealth Advisors LLC lessened its stake in The Cigna Group (NYSE:CI) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,357 shares of the health services provider’s stock after selling 216 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in The Cigna Group were worth $651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. AMF Tjanstepension AB boosted its holdings in The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares during the last quarter. Swedbank AB boosted its holdings in The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after purchasing an additional 119,681 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in The Cigna Group by 11.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,058 shares of the health services provider’s stock worth $12,190,000 after purchasing an additional 3,464 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in The Cigna Group by 284.4% during the third quarter. Arkadios Wealth Advisors now owns 3,882 shares of the health services provider’s stock worth $1,345,000 after purchasing an additional 2,872 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in The Cigna Group by 48.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 53,227 shares of the health services provider’s stock worth $18,440,000 after purchasing an additional 17,376 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CI. Truist Financial dropped their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Oppenheimer dropped 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 research report on Friday, January 31st. UBS Group dropped 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 research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped 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 research report on Monday, November 4th. Finally, StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Price Performance

Shares of CI opened at $300.80 on Tuesday. The firm has a market capitalization of $83.67 billion, a PE ratio of 24.58, a PEG ratio of 0.98 and a beta of 0.54. The company’s 50-day moving average is $286.90 and its 200-day moving average is $319.23. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the business earned $6.79 EPS. Equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

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.