Heritage Investors Management Corp Cuts Position in The Cigna Group (NYSE:CI)

Heritage Investors Management Corp lessened its stake in The Cigna Group (NYSE:CI) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,658 shares of the health services provider’s stock after selling 94 shares during the quarter. Heritage Investors Management Corp’s holdings in The Cigna Group were worth $3,495,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Swedbank AB grew its stake in 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 acquiring an additional 314,123 shares during the last quarter. FMR LLC grew its stake in The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in The Cigna Group by 68.4% in the 4th 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 during the last quarter. World Investment Advisors LLC acquired a new stake in The Cigna Group in the 3rd quarter valued at about $69,972,000. Finally, Two Sigma Advisers LP grew its stake in The Cigna Group by 995.9% in the 3rd quarter. Two Sigma Advisers LP now owns 215,900 shares of the health services provider’s stock valued at $74,796,000 after acquiring an additional 196,200 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CI. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Truist Financial decreased their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group decreased their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two equities 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Down 0.6 %

CI stock opened at $303.39 on Friday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $84.39 billion, a P/E ratio of 24.79, a PEG ratio of 0.98 and a beta of 0.54. The firm has a 50 day simple moving average of $288.90 and a 200-day simple moving average of $318.87.

The Cigna Group (NYSE:CI) last released its quarterly 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 quarter last year, the company posted $6.79 EPS. On average, equities research analysts predict 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 issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

The Cigna Group Company 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.