The Cigna Group (NYSE:CI) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of The Cigna Group (NYSE:CI) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,247 shares of the health services provider’s stock after selling 2,323 shares during the period. Amalgamated Bank’s holdings in The Cigna Group were worth $14,980,000 as of its most recent SEC filing.

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

The Cigna Group Stock Performance

Shares of CI opened at $314.24 on Wednesday. The firm has a fifty day moving average of $287.88 and a 200-day moving average of $319.07. The company has a market cap of $87.41 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 0.98 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 has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results 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 company posted $6.79 EPS. As a group, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.92%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Analyst Ratings Changes

Several brokerages have weighed in on CI. Morgan Stanley decreased their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Raymond James restated 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. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Finally, Truist Financial dropped their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $372.31.

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.