abrdn plc Reduces Holdings in The Cigna Group (NYSE:CI)

abrdn plc trimmed its holdings in The Cigna Group (NYSE:CI) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 352,994 shares of the health services provider’s stock after selling 31,279 shares during the period. abrdn plc’s holdings in The Cigna Group were worth $96,918,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CI. Ulland Investment Advisors LLC boosted its position in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the third quarter valued at approximately $37,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter valued at $34,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $53,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CI shares. Raymond James reissued a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday. Stephens lowered their target price 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. Truist Financial reduced their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped 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 report on Monday, November 4th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $378.00.

The Cigna Group Price Performance

CI stock opened at $292.56 on Tuesday. The company has a 50 day simple moving average of $294.40 and a 200 day simple moving average of $324.18. The stock has a market cap of $81.38 billion, a price-to-earnings ratio of 23.90, a P/E/G 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 Cigna Group (NYSE:CI) last issued 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 in the prior year, the firm posted $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.66 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 given a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. The Cigna Group’s dividend payout ratio is 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.