Burney Co. Sells 605 Shares of The Cigna Group (NYSE:CI)

Burney Co. cut its stake in shares of The Cigna Group (NYSE:CI) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,569 shares of the health services provider’s stock after selling 605 shares during the period. Burney Co.’s holdings in The Cigna Group were worth $1,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in shares of The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after buying an additional 202,161 shares during the period. Oak Thistle LLC bought a new position in The Cigna Group during the 4th quarter worth approximately $1,029,000. Pines Wealth Management LLC acquired a new position in The Cigna Group during the fourth quarter valued at approximately $274,000. Wynn Capital LLC grew its holdings in The Cigna Group by 1.9% during the fourth quarter. Wynn Capital LLC now owns 3,416 shares of the health services provider’s stock valued at $943,000 after purchasing an additional 65 shares during the period. Finally, Fiduciary Financial Group LLC increased its stake in The Cigna Group by 8.2% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,247 shares of the health services provider’s stock valued at $348,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.2 %

The Cigna Group stock opened at $284.49 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a 50-day moving average of $303.49 and a 200-day moving average of $327.70. The company has a market cap of $79.13 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 0.88 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

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

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CI shares. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Truist Financial reduced their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently 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.