The Cigna Group (NYSE:CI) Stake Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in The Cigna Group (NYSE:CI) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 780,341 shares of the health services provider’s stock after selling 3,693 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in The Cigna Group were worth $215,483,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. IFG Advisors LLC lifted its holdings in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after acquiring an additional 31 shares in the last quarter. Castle Rock Wealth Management LLC raised its holdings in shares of The Cigna Group by 0.5% during the third quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock worth $2,263,000 after acquiring an additional 34 shares in the last quarter. Adero Partners LLC raised its holdings in shares of The Cigna Group by 4.5% during the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after acquiring an additional 34 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its holdings in shares of The Cigna Group by 1.0% during the third quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock worth $1,265,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $286.67 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a 50 day moving average of $290.87 and a 200-day moving average of $323.07. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $79.74 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 29.66 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 45.75%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CI shares. Morgan Stanley cut their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Oppenheimer cut their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Truist Financial cut their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday. Raymond James reissued a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Moderate Buy” and an average target price of $373.69.

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.