Sawyer & Company Inc Sells 531 Shares of The Cigna Group (NYSE:CI)

Sawyer & Company Inc cut its position in shares of The Cigna Group (NYSE:CI) by 22.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,884 shares of the health services provider’s stock after selling 531 shares during the quarter. Sawyer & Company Inc’s holdings in The Cigna Group were worth $520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of The Cigna Group by 68.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after acquiring an additional 202,161 shares during the last quarter. Oak Thistle LLC bought a new position in The Cigna Group in the 4th quarter worth about $1,029,000. Pines Wealth Management LLC purchased a new stake in The Cigna Group during the 4th quarter valued at about $274,000. Wynn Capital LLC increased its stake in The Cigna Group by 1.9% during the 4th quarter. Wynn Capital LLC now owns 3,416 shares of the health services provider’s stock valued at $943,000 after purchasing an additional 65 shares in the last quarter. Finally, Fiduciary Financial Group LLC raised its holdings in The Cigna Group by 8.2% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,247 shares of the health services provider’s stock worth $348,000 after buying an additional 95 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.2 %

Shares of CI stock opened at $284.49 on Thursday. The stock has a fifty day simple moving average of $303.49 and a two-hundred day simple moving average of $327.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market capitalization of $79.13 billion, a PE ratio of 26.84, a PEG ratio of 0.88 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

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 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 firm had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter last year, the business posted $6.77 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a dividend of $1.40 per share. 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 is 52.83%.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler reissued 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. Truist Financial reduced 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. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Barclays raised their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report 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 company. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $395.93.

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.