Dynasty Wealth Management LLC Sells 2,879 Shares of The Cigna Group (NYSE:CI)

Dynasty Wealth Management LLC trimmed its stake in shares of The Cigna Group (NYSE:CI) by 76.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 909 shares of the health services provider’s stock after selling 2,879 shares during the period. Dynasty Wealth Management LLC’s holdings in The Cigna Group were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Sterling Financial Group Inc. bought a new position in The Cigna Group in the 4th quarter valued at $4,367,000. Marks Group Wealth Management Inc lifted its stake in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares during the period. Principal Financial Group Inc. boosted its holdings in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after purchasing an additional 858 shares during the period. Finally, Valley Wealth Managers Inc. raised its holdings in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

Shares of CI opened at $308.66 on Friday. The firm has a market capitalization of $85.85 billion, a PE ratio of 25.22, a P/E/G ratio of 0.98 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 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 50 day simple moving average of $289.54 and a 200 day simple moving average of $318.73.

The Cigna Group (NYSE:CI) last released its quarterly 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the firm posted $6.79 earnings per share. Sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

Wall Street Analyst Weigh In

CI has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Stephens lowered their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Barclays reduced their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group decreased their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $372.31.

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.