Marks Group Wealth Management Inc decreased its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,023 shares of the health services provider's stock after selling 1,990 shares during the quarter. Marks Group Wealth Management Inc's holdings in The Cigna Group were worth $6,081,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of CI. Avidian Wealth Enterprises LLC boosted its holdings in shares of The Cigna Group by 24.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 3,637 shares of the health services provider's stock worth $1,004,000 after buying an additional 723 shares during the period. Kentucky Trust Co bought a new stake in shares of The Cigna Group during the 4th quarter worth $136,000. Certuity LLC boosted its holdings in shares of The Cigna Group by 86.2% during the 4th quarter. Certuity LLC now owns 1,896 shares of the health services provider's stock worth $524,000 after buying an additional 878 shares during the period. Portfolio Design Labs LLC boosted its holdings in shares of The Cigna Group by 59.1% during the 4th quarter. Portfolio Design Labs LLC now owns 8,073 shares of the health services provider's stock worth $2,229,000 after buying an additional 3,000 shares during the period. Finally, Collier Financial bought a new stake in shares of The Cigna Group during the 4th quarter worth $32,000. Institutional investors and hedge funds own 86.99% of the company's stock.
Wall Street Analyst Weigh In
CI has been the subject of several recent analyst reports. Sanford C. Bernstein downgraded shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective for the company. in a report on Thursday, February 6th. Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Piper Sandler reissued an "overweight" rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Cantor Fitzgerald reduced their price target on shares of The Cigna Group from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has an average rating of "Moderate Buy" and a consensus target price of $373.69.
Check Out Our Latest Stock Analysis on CI
The Cigna Group Price Performance
Shares of CI stock traded down $7.70 during mid-day trading on Friday, reaching $292.12. The company's stock had a trading volume of 1,579,577 shares, compared to its average volume of 1,953,796. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market cap of $81.25 billion, a P/E ratio of 23.87, a PEG ratio of 0.94 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 firm's 50-day moving average is $286.46 and its two-hundred day moving average is $321.09.
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 the consensus estimate 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 quarter in the prior year, the company earned $6.79 EPS. On average, research analysts predict that The Cigna Group will post 29.8 earnings per share 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 represents a $6.04 annualized dividend and a yield of 2.07%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group's dividend payout ratio is currently 45.75%.
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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