HB Wealth Management LLC Decreases Holdings in The Cigna Group (NYSE:CI)

HB Wealth Management LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,971 shares of the health services provider’s stock after selling 342 shares during the period. HB Wealth Management LLC’s holdings in The Cigna Group were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sterling Financial Group Inc. purchased a new position in The Cigna Group in the 4th quarter valued at about $4,367,000. Marks Group Wealth Management Inc boosted its position in The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after buying an additional 23,376 shares during the last quarter. Principal Financial Group Inc. boosted its position in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after buying an additional 11,228 shares during the last quarter. Trinity Street Asset Management LLP boosted its position in The Cigna Group by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after buying an additional 5,397 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $284.16 on Monday. The firm’s 50 day moving average is $301.37 and its two-hundred day moving average is $326.79. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a market capitalization of $79.04 billion, a P/E ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter last year, the business earned $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. Analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CI. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Piper Sandler restated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Barclays upped their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $395.93.

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.