abrdn plc Has $96.92 Million Stake in The Cigna Group (NYSE:CI)

abrdn plc trimmed its stake in shares of The Cigna Group (NYSE:CI) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 352,994 shares of the health services provider’s stock after selling 31,279 shares during the period. abrdn plc owned about 0.13% of The Cigna Group worth $96,918,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Childress Capital Advisors LLC boosted its holdings in shares of The Cigna Group by 4.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,020 shares of the health services provider’s stock worth $282,000 after buying an additional 40 shares during the period. Optas LLC raised its holdings in The Cigna Group by 4.2% in the 4th quarter. Optas LLC now owns 5,323 shares of the health services provider’s stock valued at $1,470,000 after acquiring an additional 215 shares in the last quarter. Financial Life Planners bought a new position in shares of The Cigna Group in the 4th quarter valued at $245,000. Catalina Capital Group LLC increased its stake in shares of The Cigna Group by 3.5% in the 4th quarter. Catalina Capital Group LLC now owns 1,637 shares of the health services provider’s stock valued at $452,000 after purchasing an additional 56 shares during the last quarter. Finally, Lynch Asset Management Inc. increased its stake in shares of The Cigna Group by 2.6% in the 4th quarter. Lynch Asset Management Inc. now owns 9,900 shares of the health services provider’s stock valued at $2,734,000 after purchasing an additional 250 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.6 %

CI stock opened at $292.56 on Tuesday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market capitalization of $81.38 billion, a P/E ratio of 23.90, a P/E/G ratio of 0.97 and a beta of 0.54. 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 firm has a 50-day simple moving average of $294.40 and a 200-day simple moving average of $324.18.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 business earned $6.79 earnings per share. Equities analysts forecast that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.06%. The Cigna Group’s dividend payout ratio is 45.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CI shares. Cantor Fitzgerald reduced their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Barclays dropped their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Stephens dropped 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. Finally, Morgan Stanley dropped their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $378.00.

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.