Bradley Foster & Sargent Inc. CT Trims Stock Position in The Cigna Group (NYSE:CI)

Bradley Foster & Sargent Inc. CT trimmed its position in The Cigna Group (NYSE:CI) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,655 shares of the health services provider’s stock after selling 132 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in The Cigna Group were worth $5,151,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CI. FMR LLC raised its position in shares of The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after buying an additional 279,880 shares during the period. Massachusetts Financial Services Co. MA increased its stake in The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares during the last quarter. Geode Capital Management LLC raised its position in The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after purchasing an additional 22,408 shares during the period. Parnassus Investments LLC lifted its stake in shares of The Cigna Group by 2.1% in the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after purchasing an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of The Cigna Group by 2.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after purchasing an additional 44,810 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial reduced their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped 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 report on Monday, November 4th. Finally, Wells Fargo & Company decreased their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $373.69.

The Cigna Group Stock Performance

Shares of CI opened at $299.92 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market capitalization of $83.42 billion, a PE ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a 50-day simple moving average of $286.35 and a 200-day simple moving average of $319.60.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the company posted $6.79 earnings per share. On average, analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal 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 issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. 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.