Hartford Investment Management Co. Sells 390 Shares of The Cigna Group (NYSE:CI)

Hartford Investment Management Co. lessened its holdings in The Cigna Group (NYSE:CI) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,203 shares of the health services provider’s stock after selling 390 shares during the period. Hartford Investment Management Co.’s holdings in The Cigna Group were worth $4,750,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Ulland Investment Advisors LLC raised its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the third quarter worth $37,000. Collier Financial bought a new stake in The Cigna Group during the fourth quarter worth $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the fourth quarter valued at $34,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the third quarter valued at $45,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CI shares. Morgan Stanley decreased their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Stephens decreased 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 report on Friday, January 31st. Royal Bank of Canada decreased their price objective 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. Finally, UBS Group decreased their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Three 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Trading Up 0.9 %

CI opened at $295.46 on Wednesday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a 50-day simple moving average of $288.96 and a 200 day simple moving average of $322.16. 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 $82.18 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm posted $6.79 EPS. Analysts predict that The Cigna Group will post 29.8 EPS 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. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 45.75%.

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.