Bryn Mawr Capital Management LLC Has $17.83 Million Holdings in The Cigna Group (NYSE:CI)

Bryn Mawr Capital Management LLC boosted its position in The Cigna Group (NYSE:CI) by 5,367.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 64,570 shares of the health services provider’s stock after purchasing an additional 63,389 shares during the period. Bryn Mawr Capital Management LLC’s holdings in The Cigna Group were worth $17,830,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the 3rd quarter valued at $37,000. Collier Financial bought a new stake in The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at about $34,000. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group during the 3rd quarter worth about $45,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the 4th quarter valued at about $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI stock opened at $297.27 on Thursday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm’s 50-day simple moving average is $285.65 and its two-hundred day simple moving average is $319.92. The firm has a market cap of $82.69 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 0.96 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 Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period in the prior year, the business earned $6.79 EPS. As a group, equities analysts forecast that The Cigna Group will post 29.77 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. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is currently 49.35%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CI. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft decreased 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 research note on Monday, November 4th. Cantor Fitzgerald dropped their price objective on shares of 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. Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Royal Bank of Canada dropped their price target on shares of 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. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $373.69.

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.