Concurrent Investment Advisors LLC Has $1.07 Million Position in The Cigna Group (NYSE:CI)

Concurrent Investment Advisors LLC lowered its stake in The Cigna Group (NYSE:CI) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,862 shares of the health services provider’s stock after selling 202 shares during the period. Concurrent Investment Advisors LLC’s holdings in The Cigna Group were worth $1,066,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Handelsbanken Fonder AB boosted its stake in The Cigna Group by 3.8% in the fourth quarter. Handelsbanken Fonder AB now owns 80,145 shares of the health services provider’s stock valued at $22,131,000 after acquiring an additional 2,923 shares during the last quarter. Banyan Capital Management Inc. boosted its position in shares of The Cigna Group by 0.9% during the fourth quarter. Banyan Capital Management Inc. now owns 53,690 shares of the health services provider’s stock worth $14,826,000 after purchasing an additional 465 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in shares of The Cigna Group by 5,367.4% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 64,570 shares of the health services provider’s stock worth $17,830,000 after purchasing an additional 63,389 shares in the last quarter. Alberta Investment Management Corp bought a new position in shares of The Cigna Group during the fourth quarter worth $608,000. Finally, Financial Perspectives Inc boosted its position in shares of The Cigna Group by 6,200.0% during the fourth quarter. Financial Perspectives Inc now owns 378 shares of the health services provider’s stock worth $104,000 after purchasing an additional 372 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of 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. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research report on Thursday, February 6th. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. 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 research report on Friday, January 31st. Finally, StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $372.31.

The Cigna Group Stock Up 0.1 %

Shares of CI stock opened at $299.92 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm’s fifty day moving average price is $286.35 and its two-hundred day moving average price is $319.54. The firm has a market capitalization of $83.42 billion, a P/E ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54.

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 the consensus estimate 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 quarter last year, the business earned $6.79 EPS. On average, equities analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. The Cigna Group’s payout ratio is currently 45.75%.

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.