Stack Financial Management Inc Sells 300 Shares of The Cigna Group (NYSE:CI)

Stack Financial Management Inc lessened its stake in shares of The Cigna Group (NYSE:CI) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,810 shares of the health services provider’s stock after selling 300 shares during the quarter. The Cigna Group comprises approximately 1.9% of Stack Financial Management Inc’s holdings, making the stock its 22nd largest position. Stack Financial Management Inc’s holdings in The Cigna Group were worth $20,658,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Swedbank AB grew its stake in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares during the last quarter. FMR LLC boosted its holdings in 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 valued at $4,929,978,000 after acquiring an additional 279,880 shares during the period. Assenagon Asset Management S.A. grew its position in shares of The Cigna Group by 68.4% in 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 last quarter. World Investment Advisors LLC bought a new position in shares of The Cigna Group in the third quarter worth about $69,972,000. Finally, Two Sigma Advisers LP lifted its position in shares of The Cigna Group by 995.9% during the 3rd quarter. Two Sigma Advisers LP now owns 215,900 shares of the health services provider’s stock worth $74,796,000 after purchasing an additional 196,200 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.3 %

Shares of NYSE:CI opened at $300.80 on Tuesday. The company’s fifty day moving average is $286.90 and its 200-day moving average is $319.23. 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 has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a market capitalization of $83.67 billion, a PE ratio of 24.58, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm earned $6.79 EPS. Equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group lowered their target price 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. Morgan Stanley dropped their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $372.31.

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.