The Cigna Group (NYSE:CI) Stock Position Cut by Lmcg Investments LLC

Lmcg Investments LLC cut its stake in The Cigna Group (NYSE:CI) by 19.6% in the 4th quarter, HoldingsChannel reports. The fund owned 16,125 shares of the health services provider’s stock after selling 3,920 shares during the period. Lmcg Investments LLC’s holdings in The Cigna Group were worth $4,453,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CI. Sterling Financial Group Inc. bought a new position in shares of The Cigna Group during the 4th quarter valued at about $4,367,000. Marks Group Wealth Management Inc increased its holdings in shares of The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares in the last quarter. Trinity Street Asset Management LLP raised its position in shares of The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after purchasing an additional 5,397 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in shares of The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.1 %

NYSE CI opened at $284.16 on Tuesday. The stock’s 50 day simple moving average is $301.37 and its 200 day simple moving average is $326.80. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick 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 $79.04 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company posted $6.77 earnings per share. As a group, sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. The ex-dividend date 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 (DPR) is currently 52.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CI shares. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler restated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Barclays lifted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $395.93.

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.