The Cigna Group (NYSE:CI) Position Boosted by Banyan Capital Management Inc.

Banyan Capital Management Inc. lifted its stake in The Cigna Group (NYSE:CI) by 0.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 53,690 shares of the health services provider’s stock after acquiring an additional 465 shares during the quarter. The Cigna Group comprises 8.9% of Banyan Capital Management Inc.’s portfolio, making the stock its 3rd largest holding. Banyan Capital Management Inc.’s holdings in The Cigna Group were worth $14,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Adero Partners LLC grew its stake in shares of The Cigna Group by 4.5% in the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after purchasing an additional 34 shares during the period. CreativeOne Wealth LLC grew its position in The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after acquiring an additional 35 shares during the period. Smithfield Trust Co raised its stake in The Cigna Group by 3.6% during the third quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock worth $373,000 after acquiring an additional 38 shares in the last quarter. Griffin Asset Management Inc. lifted its holdings in shares of The Cigna Group by 0.6% during the fourth quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider’s stock valued at $1,869,000 after acquiring an additional 39 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of The Cigna Group by 5.6% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 751 shares of the health services provider’s stock valued at $260,000 after purchasing an additional 40 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CI has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. UBS Group cut their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Wells Fargo & Company decreased their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $373.69.

The Cigna Group Price Performance

CI opened at $297.27 on Thursday. The company has a fifty day moving average price of $285.65 and a two-hundred day moving average price of $319.92. The firm has a market capitalization of $82.69 billion, a PE ratio of 24.29, a P/E/G ratio of 0.96 and a beta of 0.54. 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 0.70, 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 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 last year, the firm earned $6.79 EPS. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase 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 (DPR) is currently 49.35%.

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.