Spire Wealth Management Sells 4,695 Shares of The Cigna Group (NYSE:CI)

Spire Wealth Management lessened its stake in shares of The Cigna Group (NYSE:CI) by 52.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,300 shares of the health services provider’s stock after selling 4,695 shares during the period. Spire Wealth Management’s holdings in The Cigna Group were worth $1,187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after acquiring an additional 858 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of The Cigna Group by 1.2% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,725 shares of the health services provider’s stock valued at $2,133,000 after acquiring an additional 88 shares in the last quarter. Western Financial Corp CA increased its holdings in The Cigna Group by 14.4% during the fourth quarter. Western Financial Corp CA now owns 2,643 shares of the health services provider’s stock valued at $730,000 after buying an additional 333 shares during the period. Concord Wealth Partners increased its holdings in The Cigna Group by 18.3% during the fourth quarter. Concord Wealth Partners now owns 2,149 shares of the health services provider’s stock valued at $593,000 after buying an additional 332 shares during the period. Finally, Concord Asset Management LLC VA increased its holdings in The Cigna Group by 42.7% during the fourth quarter. Concord Asset Management LLC VA now owns 1,534 shares of the health services provider’s stock valued at $424,000 after buying an additional 459 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several research reports. Cantor Fitzgerald cut their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday. Stephens cut their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday. Barclays cut their price objective 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. UBS Group cut their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday. Finally, StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $378.00.

The Cigna Group Price Performance

Shares of CI opened at $292.56 on Tuesday. The firm has a market capitalization of $81.38 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. 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 Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company’s fifty day moving average price is $294.40 and its 200-day moving average price is $324.18.

The Cigna Group (NYSE:CI) last announced 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business earned $6.79 EPS. On average, equities research analysts predict that The Cigna Group will post 29.66 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.06%. The Cigna Group’s payout ratio is currently 45.75%.

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.