Ritholtz Wealth Management Cuts Holdings in The Cigna Group (NYSE:CI)

Ritholtz Wealth Management lowered its position in The Cigna Group (NYSE:CI - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,768 shares of the health services provider's stock after selling 1,201 shares during the period. Ritholtz Wealth Management's holdings in The Cigna Group were worth $1,317,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Ulland Investment Advisors LLC boosted its position in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group in the 3rd quarter worth about $37,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the fourth quarter valued at about $34,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group during the third quarter valued at about $45,000. Finally, Intact Investment Management Inc. purchased a new stake in The Cigna Group during the third quarter worth about $69,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Up 1.1 %

The Cigna Group stock traded up $3.19 during mid-day trading on Friday, reaching $284.16. 1,892,393 shares of the company traded hands, compared to its average volume of 1,847,029. The firm's 50 day moving average price is $301.37 and its 200 day moving average price is $326.79. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 0.75 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the prior year, the business earned $6.77 EPS. The business's revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CI shares. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a report on Monday, November 4th. Royal Bank of Canada lowered their price objective 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. Cantor Fitzgerald restated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Stephens reaffirmed an "overweight" rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, The Cigna Group has an average rating of "Buy" and a consensus target price of $395.93.

The Cigna Group Profile

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.