Ieq Capital LLC Trims Holdings in The Cigna Group (NYSE:CI)

Ieq Capital LLC decreased its position in shares of The Cigna Group (NYSE:CI) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,605 shares of the health services provider’s stock after selling 972 shares during the quarter. Ieq Capital LLC’s holdings in The Cigna Group were worth $2,929,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in The Cigna Group by 49,287.7% during the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares during the period. Swedbank AB increased its stake in shares of The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after acquiring an additional 314,123 shares during the period. FMR LLC raised its holdings in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after purchasing an additional 202,161 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in The Cigna Group during the 3rd quarter worth about $69,972,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of several analyst reports. Morgan Stanley decreased their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Barclays lowered their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Stephens cut their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday. Two equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $299.92 on Friday. The stock has a market capitalization of $83.42 billion, a P/E ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. The business has a 50 day simple moving average of $286.35 and a two-hundred day simple moving average of $319.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 period last year, the company earned $6.79 earnings per share. As a group, analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.75%.

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.