The Cigna Group (NYSE:CI) Holdings Decreased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its holdings in The Cigna Group (NYSE:CI) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,023 shares of the health services provider’s stock after selling 1,990 shares during the period. Marks Group Wealth Management Inc’s holdings in The Cigna Group were worth $6,081,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB lifted its position in shares of The Cigna Group by 18.6% in the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in The Cigna Group by 5,543.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,700 shares of the health services provider’s stock valued at $1,975,000 after buying an additional 5,599 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in The Cigna Group by 1.8% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,234 shares of the health services provider’s stock valued at $774,000 after buying an additional 39 shares during the period. Paladin Wealth LLC purchased a new stake in The Cigna Group in the 3rd quarter worth approximately $149,000. Finally, CX Institutional boosted its stake in shares of The Cigna Group by 115.4% during the 3rd quarter. CX Institutional now owns 33,315 shares of the health services provider’s stock valued at $11,542,000 after buying an additional 17,852 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective 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. Truist Financial lowered their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. StockNews.com downgraded The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Cantor Fitzgerald reduced their target price on shares of 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. Finally, Royal Bank of Canada dropped their price target 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. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Stock Performance

NYSE CI opened at $295.46 on Wednesday. The company’s fifty day moving average is $288.96 and its two-hundred day moving average is $322.16. 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 current ratio of 0.66 and a quick ratio of 0.72. The firm has a market capitalization of $82.18 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the company earned $6.79 EPS. Equities research analysts forecast that The Cigna Group will post 29.8 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. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.75%.

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.