Triangle Securities Wealth Management Reduces Holdings in The Cigna Group (NYSE:CI)

Triangle Securities Wealth Management trimmed its stake in The Cigna Group (NYSE:CI) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,271 shares of the health services provider’s stock after selling 50 shares during the period. Triangle Securities Wealth Management’s holdings in The Cigna Group were worth $351,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CI. Ieq Capital LLC grew its position in The Cigna Group by 9.3% during the 2nd quarter. Ieq Capital LLC now owns 10,113 shares of the health services provider’s stock worth $3,343,000 after purchasing an additional 860 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after purchasing an additional 31 shares during the last quarter. Bridges Investment Management Inc. purchased a new position in The Cigna Group during the 2nd quarter worth $614,000. AE Wealth Management LLC grew its position in The Cigna Group by 7.1% during the 2nd quarter. AE Wealth Management LLC now owns 3,812 shares of the health services provider’s stock worth $1,260,000 after purchasing an additional 252 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in The Cigna Group by 0.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 278,111 shares of the health services provider’s stock worth $91,936,000 after purchasing an additional 1,017 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of CI stock opened at $284.16 on Monday. The company has a market capitalization of $79.04 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The firm has a fifty day simple moving average of $301.37 and a 200-day simple moving average of $326.79. 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 twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.