Graypoint LLC Sells 582 Shares of The Cigna Group (NYSE:CI)

Graypoint LLC lessened its stake in The Cigna Group (NYSE:CI) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,459 shares of the health services provider’s stock after selling 582 shares during the quarter. Graypoint LLC’s holdings in The Cigna Group were worth $679,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. LPL Financial LLC grew its holdings in shares of The Cigna Group by 18.8% in the 2nd quarter. LPL Financial LLC now owns 148,596 shares of the health services provider’s stock valued at $49,121,000 after buying an additional 23,504 shares during the period. BOKF NA grew its stake in The Cigna Group by 10.2% in the second quarter. BOKF NA now owns 5,932 shares of the health services provider’s stock valued at $1,961,000 after acquiring an additional 551 shares during the period. PFG Advisors increased its holdings in shares of The Cigna Group by 8.8% in the second quarter. PFG Advisors now owns 2,203 shares of the health services provider’s stock worth $728,000 after acquiring an additional 179 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of The Cigna Group by 9.5% during the second quarter. Oppenheimer & Co. Inc. now owns 13,923 shares of the health services provider’s stock worth $4,603,000 after purchasing an additional 1,206 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of The Cigna Group by 5.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 203,252 shares of the health services provider’s stock valued at $67,685,000 after purchasing an additional 10,398 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several research analyst reports. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Truist Financial decreased their price objective on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Trading Down 0.2 %

Shares of NYSE:CI opened at $278.77 on Friday. The business’s 50 day simple moving average is $304.77 and its 200 day simple moving average is $328.45. 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 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $77.54 billion, a P/E ratio of 26.30, a P/E/G ratio of 0.88 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS 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 company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter last year, the business earned $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. On average, research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.01%. The Cigna Group’s dividend payout ratio is 52.83%.

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.