Essex Financial Services Inc. Sells 214 Shares of The Cigna Group (NYSE:CI)

Essex Financial Services Inc. cut its holdings in The Cigna Group (NYSE:CI) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,098 shares of the health services provider’s stock after selling 214 shares during the period. Essex Financial Services Inc.’s holdings in The Cigna Group were worth $2,512,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Sterling Financial Group Inc. acquired a new position in shares of The Cigna Group during the fourth quarter worth approximately $4,367,000. Marks Group Wealth Management Inc raised 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 valued at $8,319,000 after purchasing an additional 23,376 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares during the period. Trinity Street Asset Management LLP grew its position in The Cigna Group by 7.1% in 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 last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of 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. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $292.74 on Tuesday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $289.85 and its 200-day moving average is $322.50. The firm has a market capitalization of $81.43 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 0.94 and a beta of 0.54.

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

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.06%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CI shares. StockNews.com cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Cantor Fitzgerald reduced their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada lowered their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $373.69.

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.