Savant Capital LLC Has $2.14 Million Stake in The Cigna Group (NYSE:CI)

Savant Capital LLC reduced its stake in The Cigna Group (NYSE:CI) by 54.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,757 shares of the health services provider’s stock after selling 9,109 shares during the period. Savant Capital LLC’s holdings in The Cigna Group were worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CI. Sterling Financial Group Inc. acquired a new position in The Cigna Group in the 4th quarter valued at approximately $4,367,000. Marks Group Wealth Management Inc increased its holdings in The Cigna Group by 3,669.7% in 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 purchasing an additional 23,376 shares during the period. Principal Financial Group Inc. raised its position in The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during the last quarter. Trinity Street Asset Management LLP lifted its holdings in The Cigna Group by 7.1% during the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after buying an additional 5,397 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after buying an additional 858 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer decreased their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Barclays decreased their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Cantor Fitzgerald decreased their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $373.69.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $292.72 on Thursday. The company has a market capitalization of $81.42 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The company’s 50-day moving average is $288.17 and its 200 day moving average is $321.82. 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 Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS 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 period in the previous year, the company posted $6.79 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 45.75%.

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.