Norden Group LLC Reduces Stock Holdings in The Cigna Group (NYSE:CI)

Norden Group LLC reduced its position in shares of The Cigna Group (NYSE:CI) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,249 shares of the health services provider’s stock after selling 130 shares during the quarter. Norden Group LLC’s holdings in The Cigna Group were worth $897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CI. Swedbank AB grew its position in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares during the period. FMR LLC boosted its stake 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 worth $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of The Cigna Group by 34,280.8% during the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock valued at $65,888,000 after acquiring an additional 237,909 shares during the period. Assenagon Asset Management S.A. grew its position in shares of The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after acquiring an additional 202,161 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in shares of The Cigna Group in the 3rd quarter worth $69,972,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.9 %

Shares of The Cigna Group stock opened at $308.66 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market cap of $85.85 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 0.98 and a beta of 0.54. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The business has a 50-day moving average price of $289.54 and a 200-day moving average price of $318.52.

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 firm posted $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.96%. The Cigna Group’s dividend payout ratio is presently 49.35%.

Analyst Ratings Changes

Several research firms recently weighed in on CI. Oppenheimer lowered their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average 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.