Lake Street Advisors Group LLC Decreases Position in The Cigna Group (NYSE:CI)

Lake Street Advisors Group LLC trimmed its stake in The Cigna Group (NYSE:CI) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,361 shares of the health services provider’s stock after selling 241 shares during the period. Lake Street Advisors Group LLC’s holdings in The Cigna Group were worth $928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Collier Financial bought a new stake in The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $34,000. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group during the 3rd quarter worth about $37,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the 4th quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group in the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CI shares. Piper Sandler reaffirmed 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. Wells Fargo & Company decreased their target price on 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. UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Truist Financial decreased their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Two 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, the stock has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $305.15 on Thursday. The firm has a market cap of $84.88 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 52 week low of $262.03 and a 52 week high of $370.83. The business’s fifty day simple moving average is $288.33 and its 200-day simple moving average is $318.98.

The Cigna Group (NYSE:CI) last posted its earnings results 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 last year, the firm posted $6.79 earnings per share. Equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.98%. The ex-dividend date is Wednesday, March 5th. This is an increase 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 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.