The Cigna Group (NYSE:CI) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lessened its stake in The Cigna Group (NYSE:CI) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,023 shares of the health services provider’s stock after selling 1,990 shares during the quarter. Marks Group Wealth Management Inc’s holdings in The Cigna Group were worth $6,081,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB grew its position in The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock valued at $25,511,000 after acquiring an additional 11,550 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of The Cigna Group by 5,543.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,700 shares of the health services provider’s stock valued at $1,975,000 after purchasing an additional 5,599 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of The Cigna Group by 1.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,234 shares of the health services provider’s stock worth $774,000 after purchasing an additional 39 shares during the period. Paladin Wealth LLC acquired a new stake in The Cigna Group during the 3rd quarter worth approximately $149,000. Finally, CX Institutional raised its holdings in The Cigna Group by 115.4% in the third quarter. CX Institutional now owns 33,315 shares of the health services provider’s stock valued at $11,542,000 after buying an additional 17,852 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CI. StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Cantor Fitzgerald cut their price objective 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. Truist Financial reduced their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, Piper Sandler reiterated 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. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $295.46 on Wednesday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a fifty day moving average price of $288.96 and a two-hundred day moving average price of $322.16. The firm has a market cap of $82.18 billion, a P/E ratio of 24.14, a PEG ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $6.79 EPS. Research analysts forecast that The Cigna Group will post 29.8 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. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 2.04%. The Cigna Group’s payout ratio is 45.75%.

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.