Bryn Mawr Capital Management LLC Sells 307 Shares of The Cigna Group (NYSE:CI)

Bryn Mawr Capital Management LLC decreased its holdings in The Cigna Group (NYSE:CI) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 874 shares of the health services provider’s stock after selling 307 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in The Cigna Group were worth $241,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CI. AMF Tjanstepension AB raised its position in The Cigna Group by 18.6% in the 3rd quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock valued at $25,511,000 after purchasing an additional 11,550 shares during the last quarter. Swedbank AB increased its stake in shares of The Cigna Group by 26.6% in the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after buying an additional 119,681 shares during the period. Mutual Advisors LLC increased its stake in shares of The Cigna Group by 21.1% in the 3rd quarter. Mutual Advisors LLC now owns 4,729 shares of the health services provider’s stock valued at $1,505,000 after buying an additional 825 shares during the period. First Trust Direct Indexing L.P. increased its stake in shares of The Cigna Group by 7.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,557 shares of the health services provider’s stock valued at $2,272,000 after buying an additional 463 shares during the period. Finally, SteelPeak Wealth LLC acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at $214,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI opened at $303.39 on Friday. 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 $84.39 billion, a PE ratio of 24.79, a PEG ratio of 0.98 and a beta of 0.54. 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 business’s 50-day simple moving average is $288.90 and its 200 day simple moving average is $318.87.

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 the consensus estimate 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 in the prior year, the business posted $6.79 EPS. As a group, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.99%. The Cigna Group’s dividend payout ratio is currently 49.35%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stephens lowered their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Truist Financial decreased their price objective 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. Morgan Stanley decreased their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group 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’s stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $372.31.

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.