Rhumbline Advisers Has $160.58 Million Stock Holdings in The Cigna Group (NYSE:CI)

Rhumbline Advisers lowered its stake in The Cigna Group (NYSE:CI) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 581,500 shares of the health services provider’s stock after selling 7,386 shares during the period. Rhumbline Advisers’ holdings in The Cigna Group were worth $160,575,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $34,000. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $37,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the 4th quarter valued at $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of a number of analyst reports. Cantor Fitzgerald cut their price target on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company dropped their price objective 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. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. UBS Group dropped their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Oppenheimer dropped their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Price Performance

CI stock opened at $292.12 on Friday. The stock has a 50-day moving average price of $286.97 and a two-hundred day moving average price of $321.46. The stock has a market cap of $81.25 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) 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 in the prior year, the firm posted $6.79 EPS. Equities analysts forecast that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. 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. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. The Cigna Group’s dividend payout ratio (DPR) is presently 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.