TBH Global Asset Management LLC Sells 87 Shares of The Cigna Group (NYSE:CI)

TBH Global Asset Management LLC lessened its stake in The Cigna Group (NYSE:CI) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,030 shares of the health services provider’s stock after selling 87 shares during the period. TBH Global Asset Management LLC’s holdings in The Cigna Group were worth $2,492,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake 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 purchasing an additional 399,230 shares during the period. Swedbank AB raised its holdings in shares of The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after buying an additional 314,123 shares in the last quarter. FMR LLC lifted its position in shares of The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the period. Assenagon Asset Management S.A. boosted 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 valued at $137,483,000 after buying an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in The Cigna Group in the third quarter valued at $69,972,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.9 %

Shares of NYSE CI opened at $297.27 on Thursday. The firm has a 50 day moving average price of $285.65 and a 200 day moving average price of $319.92. 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 market cap of $82.69 billion, a P/E ratio of 24.29, a P/E/G ratio of 0.96 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 in the prior year, the firm posted $6.79 earnings per share. Analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.03%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Analyst Ratings Changes

CI has been the topic of several recent analyst reports. Stephens reduced their target price 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. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a report on Thursday, February 6th. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Truist Financial cut their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.