Rhumbline Advisers Cuts Stock Holdings in The Cigna Group (NYSE:CI)

Rhumbline Advisers lessened its position in shares of The Cigna Group (NYSE:CI - Free Report) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 581,500 shares of the health services provider's stock after selling 7,386 shares during the quarter. Rhumbline Advisers owned about 0.21% of The Cigna Group worth $160,575,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CI. IFG Advisors LLC grew its stake in The Cigna Group by 4.6% during the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider's stock worth $242,000 after buying an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. grew its stake in The Cigna Group by 4.7% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider's stock worth $240,000 after buying an additional 31 shares during the last quarter. Adero Partners LLC grew its stake in The Cigna Group by 4.5% during the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider's stock worth $273,000 after buying an additional 34 shares during the last quarter. Waldron Private Wealth LLC grew its stake in The Cigna Group by 1.0% during the 3rd quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider's stock worth $1,265,000 after buying an additional 35 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its position in The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider's stock worth $422,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

NYSE CI traded up $2.52 during trading hours on Wednesday, reaching $297.27. The company's stock had a trading volume of 1,734,543 shares, compared to its average volume of 1,810,551. The firm has a market capitalization of $82.69 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 0.96 and a beta of 0.54. The Cigna Group has a 1-year low of $262.03 and a 1-year 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 company's 50-day moving average is $285.58 and its two-hundred day moving average is $320.08.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period last year, the firm posted $6.79 earnings per share. On average, equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, March 5th. The Cigna Group's payout ratio is 45.75%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada lowered their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Barclays lowered their price target on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, StockNews.com cut The Cigna Group from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $373.69.

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.