Ingalls & Snyder LLC Has $331,000 Stake in The Cigna Group (NYSE:CI)

Ingalls & Snyder LLC trimmed its stake in shares of The Cigna Group (NYSE:CI) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,199 shares of the health services provider’s stock after selling 75 shares during the period. Ingalls & Snyder LLC’s holdings in The Cigna Group were worth $331,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Avidian Wealth Enterprises LLC lifted its holdings in The Cigna Group by 24.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 3,637 shares of the health services provider’s stock valued at $1,004,000 after buying an additional 723 shares during the period. Kentucky Trust Co acquired a new position in The Cigna Group in the fourth quarter valued at approximately $136,000. Certuity LLC lifted its holdings in The Cigna Group by 86.2% in the fourth quarter. Certuity LLC now owns 1,896 shares of the health services provider’s stock valued at $524,000 after buying an additional 878 shares during the period. Portfolio Design Labs LLC lifted its holdings in The Cigna Group by 59.1% in the fourth quarter. Portfolio Design Labs LLC now owns 8,073 shares of the health services provider’s stock valued at $2,229,000 after buying an additional 3,000 shares during the period. Finally, Collier Financial acquired a new position in The Cigna Group in the fourth quarter valued at approximately $32,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CI shares. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Oppenheimer lowered their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Morgan Stanley lowered their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company lowered their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Performance

Shares of CI opened at $292.12 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a fifty day simple moving average of $286.97 and a 200 day simple moving average of $321.46. The stock has a market capitalization of $81.25 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 0.94 and a beta of 0.54. 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 (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 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 quarter last year, the firm posted $6.79 EPS. Research analysts forecast that The Cigna Group will post 29.8 EPS 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 dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 2.07%. The Cigna Group’s dividend 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.