Brendel Financial Advisors LLC Cuts Stake in The Cigna Group (NYSE:CI)

Brendel Financial Advisors LLC lowered its stake in shares of The Cigna Group (NYSE:CI) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 940 shares of the health services provider’s stock after selling 99 shares during the period. Brendel Financial Advisors LLC’s holdings in The Cigna Group were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in The Cigna Group by 3.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 307,177 shares of the health services provider’s stock valued at $101,544,000 after acquiring an additional 10,011 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in The Cigna Group by 9.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 8,649 shares of the health services provider’s stock valued at $2,859,000 after acquiring an additional 743 shares in the last quarter. Renaissance Technologies LLC grew its stake in The Cigna Group by 425.9% during the 2nd quarter. Renaissance Technologies LLC now owns 169,659 shares of the health services provider’s stock valued at $56,084,000 after acquiring an additional 137,400 shares in the last quarter. Lmcg Investments LLC grew its stake in The Cigna Group by 4.0% during the 2nd quarter. Lmcg Investments LLC now owns 20,159 shares of the health services provider’s stock valued at $6,664,000 after acquiring an additional 768 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in The Cigna Group by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 9,926 shares of the health services provider’s stock valued at $3,281,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada dropped their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $395.93.

The Cigna Group Stock Performance

Shares of CI stock opened at $284.95 on Wednesday. The firm’s 50 day moving average price is $303.49 and its 200-day moving average price is $327.70. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market cap of $79.26 billion, a P/E ratio of 26.88, a P/E/G ratio of 0.88 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the prior year, the business posted $6.77 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities research analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The Cigna Group’s dividend payout ratio is currently 52.83%.

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.