Sky Investment Group LLC Cuts Position in The Cigna Group (NYSE:CI)

Sky Investment Group LLC decreased its stake in The Cigna Group (NYSE:CI) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,039 shares of the health services provider’s stock after selling 75 shares during the period. Sky Investment Group LLC’s holdings in The Cigna Group were worth $287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after buying an additional 31 shares in the last quarter. AE Wealth Management LLC grew its stake in The Cigna Group by 7.1% in the 2nd quarter. AE Wealth Management LLC now owns 3,812 shares of the health services provider’s stock valued at $1,260,000 after acquiring an additional 252 shares during the last quarter. Hancock Whitney Corp increased its holdings in The Cigna Group by 19.7% during the 2nd quarter. Hancock Whitney Corp now owns 4,529 shares of the health services provider’s stock valued at $1,497,000 after acquiring an additional 746 shares in the last quarter. ProShare Advisors LLC raised its position in The Cigna Group by 3.8% during the second quarter. ProShare Advisors LLC now owns 46,865 shares of the health services provider’s stock worth $15,492,000 after acquiring an additional 1,704 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of The Cigna Group by 168,400.0% in the second quarter. Frank Rimerman Advisors LLC now owns 5,055 shares of the health services provider’s stock valued at $1,671,000 after purchasing an additional 5,052 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI stock opened at $284.16 on Tuesday. 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 firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a 50 day moving average price of $301.37 and a 200 day moving average price of $326.80.

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

The Cigna Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CI. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Barclays boosted their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Piper Sandler reissued an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $395.93.

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.