The Cigna Group (NYSE:CI) Shares Sold by Outfitter Financial LLC

Outfitter Financial LLC lessened its holdings in The Cigna Group (NYSE:CI) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,925 shares of the health services provider’s stock after selling 380 shares during the quarter. Outfitter Financial LLC’s holdings in The Cigna Group were worth $1,360,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CI. Sterling Financial Group Inc. acquired a new stake in shares of The Cigna Group during the fourth quarter worth about $4,367,000. Marks Group Wealth Management Inc boosted its holdings in shares of The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after purchasing an additional 858 shares during the last quarter. Finally, Trinity Street Asset Management LLP lifted its position in The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after purchasing an additional 5,397 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $299.90 on Friday. The firm has a 50-day simple moving average of $285.99 and a 200-day simple moving average of $319.78. 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 stock has a market capitalization of $83.42 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company posted $6.79 earnings per share. On average, equities analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 45.75%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler restated 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. Stephens dropped their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada lowered their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Morgan Stanley cut their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Cantor Fitzgerald dropped their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $373.69.

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.