Lyell Wealth Management LP Sells 8,322 Shares of The Cigna Group (NYSE:CI)

Lyell Wealth Management LP reduced its holdings in The Cigna Group (NYSE:CI) by 73.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,018 shares of the health services provider’s stock after selling 8,322 shares during the quarter. Lyell Wealth Management LP’s holdings in The Cigna Group were worth $833,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in The Cigna Group in the third quarter worth approximately $37,000. Collier Financial bought a new stake in The Cigna Group in the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $34,000. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group in the third quarter valued at approximately $45,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $37,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company reduced their price objective on 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. Deutsche Bank Aktiengesellschaft reduced their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Stephens reduced their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $294.75 on Wednesday. The business’s fifty day simple moving average is $285.58 and its 200 day simple moving average is $320.08. The firm has a market capitalization of $81.98 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 period in the prior year, the business earned $6.79 EPS. As a group, analysts anticipate that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.05%. The Cigna Group’s payout ratio is presently 45.75%.

About The Cigna Group

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.