James Investment Research Inc. Sells 2,838 Shares of The Cigna Group (NYSE:CI)

James Investment Research Inc. lowered its stake in The Cigna Group (NYSE:CI) by 31.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,122 shares of the health services provider’s stock after selling 2,838 shares during the period. James Investment Research Inc.’s holdings in The Cigna Group were worth $1,691,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CI. Collier Financial acquired a new stake in The Cigna Group in the fourth quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the fourth quarter valued at about $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the third quarter valued at about $37,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group in the third quarter valued at about $45,000. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial reduced their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Barclays cut their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Three 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Trading Down 2.6 %

Shares of CI stock opened at $292.12 on Friday. The company has a market cap of $81.25 billion, a P/E ratio of 23.87, a PEG ratio of 0.94 and a beta of 0.54. The stock has a 50 day simple moving average of $286.46 and a two-hundred day simple moving average of $321.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the company posted $6.79 EPS. Research analysts forecast that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. The Cigna Group’s payout ratio is currently 45.75%.

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.