Gulf International Bank UK Ltd Cuts Stock Position in The Cigna Group (NYSE:CI)

Gulf International Bank UK Ltd reduced its stake in The Cigna Group (NYSE:CI) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,850 shares of the health services provider’s stock after selling 218 shares during the period. Gulf International Bank UK Ltd’s holdings in The Cigna Group were worth $6,033,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CI. Sterling Financial Group Inc. purchased a new position in The Cigna Group during the 4th quarter worth $4,367,000. Marks Group Wealth Management Inc lifted its holdings in The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after acquiring an additional 858 shares during the period. Finally, Valley Wealth Managers Inc. lifted its holdings in shares of The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after acquiring an additional 1,548 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of a number of recent research reports. Truist Financial reduced their price objective on 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. Wells Fargo & Company decreased their target price 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. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Morgan Stanley cut their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $305.15 on Thursday. The firm has a market cap of $84.88 billion, a P/E ratio of 24.93, 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 stock has a fifty day moving average price of $288.33 and a two-hundred day moving average price of $318.98. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

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 analysts’ consensus estimates 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 business posted $6.79 earnings per share. Research 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 announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.98%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 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.