The Cigna Group (NYSE:CI) Position Trimmed by Motco

Motco decreased its holdings in The Cigna Group (NYSE:CI) by 0.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,462 shares of the health services provider’s stock after selling 127 shares during the period. Motco’s holdings in The Cigna Group were worth $4,270,000 as of its most recent SEC filing.

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

The Cigna Group Stock Down 0.6 %

CI opened at $303.39 on Friday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business has a 50 day moving average of $288.90 and a 200-day moving average of $318.87. The stock has a market capitalization of $84.39 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 last year, the business earned $6.79 earnings per share. As a group, sell-side 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 paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.99%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is currently 49.35%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of recent research reports. Cantor Fitzgerald cut their price target on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Truist Financial reduced their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Piper Sandler reissued an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Two equities research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.