The Cigna Group (NYSE:CI) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC trimmed its stake in The Cigna Group (NYSE:CI) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,287 shares of the health services provider’s stock after selling 50 shares during the quarter. Marcum Wealth LLC’s holdings in The Cigna Group were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares during the last quarter. Parnassus Investments LLC raised its holdings in shares of The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after acquiring an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The Cigna Group by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after acquiring an additional 44,810 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $284.95 on Wednesday. The firm has a market capitalization of $79.26 billion, a PE ratio of 26.88, a P/E/G ratio of 0.88 and a beta of 0.54. 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 business has a 50-day moving average of $303.49 and a two-hundred day moving average of $327.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate 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 company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the prior year, the firm posted $6.77 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. As a group, research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of analyst reports. Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One 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. According to MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus 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.