Caprock Group LLC Sells 351 Shares of The Cigna Group (NYSE:CI)

Caprock Group LLC trimmed its stake in The Cigna Group (NYSE:CI) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,434 shares of the health services provider’s stock after selling 351 shares during the period. Caprock Group LLC’s holdings in The Cigna Group were worth $2,881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Ulland Investment Advisors LLC grew its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the 3rd quarter worth approximately $37,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the third quarter valued at $45,000. Finally, Intact Investment Management Inc. bought a new position in The Cigna Group in the third quarter worth $69,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 3.9 %

NYSE CI opened at $293.99 on Friday. 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 company has a market capitalization of $81.77 billion, a PE ratio of 27.73, a P/E/G ratio of 0.82 and a beta of 0.54. The stock has a 50-day simple moving average of $294.40 and a 200 day simple moving average of $324.43.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. During the same quarter last year, the company earned $6.79 earnings per share. Research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CI shares. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Raymond James reissued a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday. Truist Financial cut their price objective on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $380.27.

The Cigna Group 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.