Wealthspire Advisors LLC Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Wealthspire Advisors LLC trimmed its position in The Cigna Group (NYSE:CI) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,645 shares of the health services provider’s stock after selling 224 shares during the quarter. Wealthspire Advisors LLC’s holdings in The Cigna Group were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. New England Capital Financial Advisors LLC increased its position in The Cigna Group by 67.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 316 shares of the health services provider’s stock valued at $87,000 after purchasing an additional 127 shares during the period. Pinnacle Financial Partners Inc increased its position in The Cigna Group by 26.8% during the 4th quarter. Pinnacle Financial Partners Inc now owns 800 shares of the health services provider’s stock valued at $222,000 after purchasing an additional 169 shares during the period. Oxbow Advisors LLC increased its position in The Cigna Group by 17.5% during the 4th quarter. Oxbow Advisors LLC now owns 19,188 shares of the health services provider’s stock valued at $5,299,000 after purchasing an additional 2,855 shares during the period. Deseret Mutual Benefit Administrators increased its position in The Cigna Group by 6.5% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 800 shares of the health services provider’s stock valued at $221,000 after purchasing an additional 49 shares during the period. Finally, Hudson Edge Investment Partners Inc. increased its position in The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after purchasing an additional 36 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CI. 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 on the stock. in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Oppenheimer dropped their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Barclays dropped their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Price Performance

CI opened at $305.15 on Thursday. 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 market capitalization of $84.88 billion, a P/E ratio of 24.93, a P/E/G ratio of 0.98 and a beta of 0.54. The company’s 50-day simple moving average is $288.33 and its two-hundred day simple moving average is $318.98. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 previous year, the business posted $6.79 EPS. As a group, analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.98%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

The Cigna Group Company 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.