The Cigna Group (NYSE:CI) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lowered its stake in shares of The Cigna Group (NYSE:CI) by 26.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 874 shares of the health services provider’s stock after selling 307 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in The Cigna Group were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the 3rd quarter worth $37,000. Collier Financial acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $34,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the third quarter valued at $45,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CI shares. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a report on Thursday, February 6th. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Stephens reduced their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Morgan Stanley reduced their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $372.31.

The Cigna Group Stock Performance

CI opened at $303.39 on Friday. The firm has a market capitalization of $84.39 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The stock’s 50 day moving average price is $288.90 and its two-hundred day moving average price is $318.87. 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 Cigna Group has a 12-month low of $262.03 and a 12-month 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 (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 period last year, the business 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 year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 yield of 1.99%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

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.