CWA Asset Management Group LLC lowered its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 89.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 791 shares of the health services provider's stock after selling 6,842 shares during the quarter. CWA Asset Management Group LLC's holdings in The Cigna Group were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of the stock. Ulland Investment Advisors LLC increased its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock worth $36,000 after buying an additional 100 shares during the period. Prospera Private Wealth LLC purchased a new stake in The Cigna Group in the 3rd quarter valued at $37,000. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group in the 3rd quarter valued at $45,000. Intact Investment Management Inc. purchased a new position in The Cigna Group during the 3rd quarter worth $69,000. Finally, Stone House Investment Management LLC increased its stake in The Cigna Group by 25.0% in the third quarter. Stone House Investment Management LLC now owns 200 shares of the health services provider's stock valued at $69,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.
The Cigna Group Stock Down 0.2 %
Shares of CI traded down $0.55 during mid-day trading on Friday, reaching $278.77. 1,527,103 shares of the stock traded hands, compared to its average volume of 1,212,290. The firm has a market cap of $77.54 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 0.88 and a beta of 0.54. The stock has a fifty day simple moving average of $305.53 and a 200 day simple moving average of $328.97. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.
The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company earned $6.77 earnings per share. Sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.
The Cigna Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group's payout ratio is currently 52.83%.
Wall Street Analyst Weigh In
CI has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a report on Tuesday, September 17th. Truist Financial cut their price target on shares of The Cigna Group from $420.00 to $390.00 and set a "buy" rating for the company in a report on Monday. Barclays lifted their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, The Cigna Group has an average rating of "Buy" and an average target price of $395.93.
Read Our Latest Stock Analysis on CI
About The Cigna Group
(
Free Report)
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.
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