The Cigna Group (NYSE:CI) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC cut its holdings in shares of The Cigna Group (NYSE:CI) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Swedbank AB boosted its stake in shares of The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares during the period. FMR LLC increased its stake in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the period. Assenagon Asset Management S.A. raised its holdings in The Cigna Group by 68.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after acquiring an additional 202,161 shares in the last quarter. World Investment Advisors LLC purchased a new position in The Cigna Group in the third quarter worth approximately $69,972,000. Finally, Two Sigma Advisers LP grew its holdings in The Cigna Group by 995.9% during the 3rd quarter. Two Sigma Advisers LP now owns 215,900 shares of the health services provider’s stock worth $74,796,000 after acquiring an additional 196,200 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Down 2.8 %

Shares of The Cigna Group stock opened at $305.15 on Thursday. The company’s fifty day moving average is $288.33 and its two-hundred day moving average is $318.98. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 company has a market capitalization of $84.88 billion, a P/E ratio of 24.93, a PEG ratio of 0.98 and a beta of 0.54.

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 earned $6.79 EPS. 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 declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.98%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CI. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company lowered 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. Sanford C. Bernstein lowered 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 report on Thursday, February 6th. 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. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $372.31.

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.