The Cigna Group (NYSE:CI) Shares Bought by Banyan Capital Management Inc.

Banyan Capital Management Inc. boosted its holdings in The Cigna Group (NYSE:CI) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,690 shares of the health services provider’s stock after purchasing an additional 465 shares during the period. The Cigna Group comprises 8.9% of Banyan Capital Management Inc.’s portfolio, making the stock its 3rd largest position. Banyan Capital Management Inc.’s holdings in The Cigna Group were worth $14,826,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CI. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $37,000. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group during the fourth quarter worth about $34,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the third quarter worth about $45,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CI shares. Raymond James restated a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. UBS Group reduced their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Morgan Stanley decreased their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. 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 MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $373.69.

The Cigna Group Stock Up 0.9 %

Shares of The Cigna Group stock opened at $297.27 on Thursday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market capitalization of $82.69 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 0.96 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $285.65 and its 200-day moving average is $319.92.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 period last year, the company posted $6.79 EPS. Equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.03%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

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.