The Cigna Group (NYSE:CI) Position Trimmed by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. reduced its holdings in The Cigna Group (NYSE:CI) by 5.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 894 shares of the health services provider’s stock after selling 48 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in The Cigna Group were worth $247,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares during the period. Ameriprise Financial Inc. boosted its stake in The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after purchasing an additional 405,694 shares during the period. The Manufacturers Life Insurance Company grew its position in The Cigna Group by 145.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after purchasing an additional 404,791 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after purchasing an additional 399,230 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of The Cigna Group by 526.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after buying an additional 305,490 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Trading Up 0.8 %

Shares of NYSE:CI traded up $2.12 during midday trading on Monday, reaching $281.11. The company had a trading volume of 1,117,140 shares, compared to its average volume of 1,196,420. The company has a fifty day simple moving average of $304.77 and a two-hundred day simple moving average of $328.39. The firm has a market cap of $78.19 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 0.88 and a beta of 0.54. 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 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same period last year, the firm posted $6.77 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Truist Financial cut their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $395.93.

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.