The Cigna Group (NYSE:CI) Stock Position Trimmed by Global Retirement Partners LLC

Global Retirement Partners LLC cut its position in The Cigna Group (NYSE:CI) by 16.2% during the 4th quarter, HoldingsChannel reports. The firm owned 2,684 shares of the health services provider’s stock after selling 517 shares during the quarter. Global Retirement Partners LLC’s holdings in The Cigna Group were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Collier Financial bought a new stake in The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the 4th quarter valued at about $34,000. Prospera Private Wealth LLC bought a new stake in The Cigna Group in the 3rd quarter valued at about $37,000. Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group during the 4th quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the 3rd quarter valued at about $45,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

The Cigna Group stock opened at $299.92 on Friday. The firm’s 50 day simple moving average is $286.35 and its 200-day simple moving average is $319.54. The company has a market cap of $83.42 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last released its 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the company earned $6.79 earnings per share. As a group, equities research analysts predict that The Cigna Group will post 29.77 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. Stockholders of record on Wednesday, March 5th will be given a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is 45.75%.

Analyst Ratings Changes

CI has been the topic of several research analyst reports. Morgan Stanley lowered their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Raymond James reissued 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 note on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. UBS Group lowered their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target of $372.31.

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.