Levin Capital Strategies L.P. Sells 500 Shares of The Cigna Group (NYSE:CI)

Levin Capital Strategies L.P. cut its stake in shares of The Cigna Group (NYSE:CI) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,470 shares of the health services provider’s stock after selling 500 shares during the quarter. Levin Capital Strategies L.P.’s holdings in The Cigna Group were worth $682,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Collier Financial bought a new position in shares of The Cigna Group during the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at approximately $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the 3rd quarter valued at approximately $37,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the 4th quarter valued at approximately $37,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group during the 3rd quarter valued at approximately $45,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

NYSE:CI opened at $308.66 on Friday. The stock’s fifty day moving average is $289.54 and its 200 day moving average is $318.63. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market capitalization of $85.85 billion, a PE ratio of 25.22, 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 Cigna Group (NYSE:CI) last released its quarterly earnings results 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the business posted $6.79 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently declared 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 represents a $6.04 annualized dividend and a yield of 1.96%. 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 presently 49.35%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Stephens lowered their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $372.31.

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.