Chesley Taft & Associates LLC Reduces Position in The Cigna Group (NYSE:CI)

Chesley Taft & Associates LLC lowered its stake in The Cigna Group (NYSE:CI) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,365 shares of the health services provider’s stock after selling 253 shares during the period. Chesley Taft & Associates LLC’s holdings in The Cigna Group were worth $2,310,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Ulland Investment Advisors LLC raised its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the 3rd quarter valued at approximately $37,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at $34,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the third quarter worth $45,000. Finally, Intact Investment Management Inc. purchased a new position in shares of The Cigna Group during the third quarter worth $69,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CI. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Truist Financial dropped 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. Royal Bank of Canada decreased 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. Barclays raised their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $395.93.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $284.16 on Tuesday. 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 simple moving average of $300.19 and a two-hundred day simple moving average of $326.51. The stock has a market capitalization of $79.04 billion, a P/E ratio of 26.81, a PEG ratio of 0.77 and a beta of 0.54. 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 released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business 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 company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 earnings per share. As a group, analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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

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.