Transcend Capital Advisors LLC Reduces Holdings in The Cigna Group (NYSE:CI)

Transcend Capital Advisors LLC lowered its position in The Cigna Group (NYSE:CI) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,465 shares of the health services provider’s stock after selling 300 shares during the quarter. Transcend Capital Advisors LLC’s holdings in The Cigna Group were worth $1,233,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Paradigm Asset Management Co. LLC lifted its stake in The Cigna Group by 74.1% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 5,875 shares of the health services provider’s stock worth $1,622,000 after purchasing an additional 2,500 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in shares of The Cigna Group by 36.4% in the fourth quarter. Waterfront Wealth Inc. now owns 3,406 shares of the health services provider’s stock worth $940,000 after buying an additional 909 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in shares of The Cigna Group during the 4th quarter worth approximately $2,899,000. Handelsbanken Fonder AB boosted its holdings in The Cigna Group by 3.8% during the 4th quarter. Handelsbanken Fonder AB now owns 80,145 shares of the health services provider’s stock valued at $22,131,000 after acquiring an additional 2,923 shares during the period. Finally, Banyan Capital Management Inc. increased its stake in The Cigna Group by 0.9% in the fourth quarter. Banyan Capital Management Inc. now owns 53,690 shares of the health services provider’s stock worth $14,826,000 after purchasing an additional 465 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI stock opened at $299.92 on Friday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market cap of $83.42 billion, a price-to-earnings ratio of 24.50, 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 firm has a 50-day simple moving average of $286.35 and a two-hundred day simple moving average of $319.60.

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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the business posted $6.79 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 EPS 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. Stockholders of record on Wednesday, March 5th will be given a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.75%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CI. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Stephens reduced their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Oppenheimer reduced their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Finally, Truist Financial lowered their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. 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. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $373.69.

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.