Levin Capital Strategies L.P. Trims Holdings in The Cigna Group (NYSE:CI)

Levin Capital Strategies L.P. decreased its holdings in The Cigna Group (NYSE:CI) by 16.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,470 shares of the health services provider’s stock after selling 500 shares during the quarter. Levin Capital Strategies L.P.’s holdings in The Cigna Group were worth $682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in The Cigna Group in the third quarter worth $37,000. Collier Financial bought a new position in shares of The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the 4th quarter worth $34,000. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group during the 3rd quarter worth $45,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. 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. Wells Fargo & Company dropped their price objective on 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. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer dropped their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Two 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $308.66 on Friday. 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 business’s 50 day moving average price is $289.54 and its 200-day moving average price is $318.63. The firm has a market capitalization of $85.85 billion, a PE ratio of 25.22, a P/E/G ratio of 0.98 and a beta of 0.54. 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 released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 business posted $6.79 EPS. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.96%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 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.