The Cigna Group (NYSE:CI) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management cut its holdings in shares of The Cigna Group (NYSE:CI) by 25.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,065 shares of the health services provider’s stock after selling 360 shares during the period. Bar Harbor Wealth Management’s holdings in The Cigna Group were worth $294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wedmont Private Capital grew its stake in The Cigna Group by 8.7% during the 4th quarter. Wedmont Private Capital now owns 4,664 shares of the health services provider’s stock valued at $1,301,000 after purchasing an additional 373 shares in the last quarter. Trust Co. of Toledo NA OH increased its stake in shares of The Cigna Group by 6.2% in the fourth quarter. Trust Co. of Toledo NA OH now owns 1,032 shares of the health services provider’s stock worth $285,000 after buying an additional 60 shares during the last quarter. Fiduciary Alliance LLC acquired a new stake in The Cigna Group in the fourth quarter valued at $252,000. Winthrop Advisory Group LLC boosted its stake in The Cigna Group by 2.9% during the 4th quarter. Winthrop Advisory Group LLC now owns 3,501 shares of the health services provider’s stock valued at $967,000 after acquiring an additional 99 shares during the last quarter. Finally, Clark & Stuart Inc acquired a new position in The Cigna Group during the 4th quarter worth $229,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $281.54 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a 50 day simple moving average of $304.16 and a 200-day simple moving average of $328.02. The company has a market cap of $78.31 billion, a PE ratio of 26.56, a P/E/G ratio of 0.88 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business posted $6.77 EPS. On average, equities research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Truist Financial reduced their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. 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. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $395.93.

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.