Beacon Financial Group Reduces Holdings in The Cigna Group (NYSE:CI)

Beacon Financial Group trimmed its stake in The Cigna Group (NYSE:CI) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,196 shares of the health services provider’s stock after selling 152 shares during the period. Beacon Financial Group’s holdings in The Cigna Group were worth $606,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sterling Financial Group Inc. purchased a new position in shares of The Cigna Group in the 4th quarter valued at $4,367,000. Marks Group Wealth Management Inc boosted its stake in The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares during the period. Principal Financial Group Inc. boosted its stake in The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during the period. Trinity Street Asset Management LLP boosted its stake in The Cigna Group by 7.1% during the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after purchasing an additional 5,397 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after purchasing an additional 858 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.9 %

Shares of NYSE CI opened at $292.72 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a 50-day moving average price of $288.17 and a 200 day moving average price of $321.82. The stock has a market capitalization of $81.42 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced 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 quarter last year, the firm posted $6.79 earnings per share. Equities research analysts anticipate that The Cigna Group will post 29.8 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 paid a $1.51 dividend. This is a boost 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 2.06%. The Cigna Group’s dividend payout ratio (DPR) is 45.75%.

Analysts Set New Price Targets

CI has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. StockNews.com cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Royal Bank of Canada decreased 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 note on Friday, November 1st. Stephens decreased their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Barclays decreased their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Three investment 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. According to MarketBeat, the company presently has an average 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.