Bryn Mawr Capital Management LLC Acquires 63,389 Shares of The Cigna Group (NYSE:CI)

Bryn Mawr Capital Management LLC boosted its stake in The Cigna Group (NYSE:CI - Free Report) by 5,367.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,570 shares of the health services provider's stock after purchasing an additional 63,389 shares during the period. Bryn Mawr Capital Management LLC's holdings in The Cigna Group were worth $17,830,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sterling Financial Group Inc. purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $4,367,000. Marks Group Wealth Management Inc increased its stake 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 buying an additional 23,376 shares during the period. Principal Financial Group Inc. increased its stake 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 buying an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake 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 buying an additional 858 shares during the period. Finally, Trinity Street Asset Management LLP increased its stake 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 buying an additional 5,397 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Barclays dropped their price target on 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. Royal Bank of Canada dropped their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Oppenheimer dropped their price target on 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. Finally, UBS Group dropped their price target on 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $373.69.

The Cigna Group Stock Performance

Shares of NYSE:CI traded up $0.81 during midday trading on Friday, reaching $300.49. 1,398,184 shares of the company's stock traded hands, compared to its average volume of 1,780,679. The company has a market cap of $83.58 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock has a 50 day moving average of $285.99 and a 200 day moving average of $319.78.

The Cigna Group (NYSE:CI - Get Free Report) last announced 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 company earned $6.79 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is an increase 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 2.01%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group's dividend payout ratio is presently 45.75%.

About The Cigna Group

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.