Private Advisor Group LLC reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,995 shares of the health services provider's stock after selling 6,226 shares during the period. Private Advisor Group LLC's holdings in The Cigna Group were worth $3,865,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the 3rd quarter valued at approximately $37,000. Collier Financial acquired a new stake in shares of The Cigna Group during the fourth quarter worth $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the 4th quarter worth about $34,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at about $45,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the 4th quarter valued at about $37,000. Institutional investors own 86.99% of the company's stock.
The Cigna Group Stock Performance
Shares of NYSE CI opened at $299.92 on Monday. 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 quick ratio of 0.72 and a current ratio of 0.66. The stock has a fifty day moving average price of $286.35 and a two-hundred day moving average price of $319.47. The firm has a market cap of $83.42 billion, a P/E ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54.
The Cigna Group (NYSE:CI - Get Free Report) last released its 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 return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the business earned $6.79 EPS. Research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.
The Cigna Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. 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 2.01%. The Cigna Group's dividend payout ratio is currently 49.35%.
Analyst Ratings Changes
A number of brokerages have issued reports on CI. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a report on Friday, January 31st. Barclays reduced their price objective 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. Morgan Stanley dropped their target price on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Finally, Raymond James restated a "strong-buy" rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given 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 price target of $372.31.
Check Out Our Latest Report on The Cigna Group
The Cigna Group Profile
(
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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