The Cigna Group (NYSE:CI) Holdings Lowered by Lipe & Dalton

Lipe & Dalton cut its stake in The Cigna Group (NYSE:CI) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,832 shares of the health services provider’s stock after selling 199 shares during the period. Lipe & Dalton’s holdings in The Cigna Group were worth $1,611,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CI. International Assets Investment Management LLC grew its holdings in The Cigna Group by 49,287.7% during the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after acquiring an additional 399,230 shares during the period. Swedbank AB lifted its holdings in shares of 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 purchasing an additional 314,123 shares during the last quarter. FMR LLC boosted its position in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. Assenagon Asset Management S.A. increased its stake in The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after purchasing an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in The Cigna Group during the 3rd quarter worth about $69,972,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $299.92 on Friday. The firm has a market cap of $83.42 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. 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 has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a 50 day moving average of $286.35 and a 200-day moving average of $319.60.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 prior year, the company posted $6.79 earnings per share. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is currently 45.75%.

Analyst Ratings Changes

CI has been the subject of several recent analyst reports. UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley cut their target price 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. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $373.69.

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.