The Cigna Group (NYSE:CI) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC reduced its holdings in shares of The Cigna Group (NYSE:CI) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,493 shares of the health services provider’s stock after selling 350 shares during the quarter. Prudent Man Advisors LLC’s holdings in The Cigna Group were worth $688,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Swedbank AB increased its position in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after buying an additional 314,123 shares during the period. FMR LLC raised its position in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of The Cigna Group by 34,280.8% during the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock valued at $65,888,000 after acquiring an additional 237,909 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after purchasing an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of The Cigna Group in the third quarter valued at approximately $69,972,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley cut their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Cantor Fitzgerald cut their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Stephens decreased 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. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $308.66 on Friday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock’s fifty day moving average price is $289.54 and its two-hundred day moving average price is $318.73. The firm has a market cap of $85.85 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

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 in the prior year, the firm posted $6.79 earnings per share. On average, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 5th. 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%.

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.