Brown Financial Advisors Has $428,000 Position in The Cigna Group (NYSE:CI)

Brown Financial Advisors cut its holdings in The Cigna Group (NYSE:CI) by 76.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,236 shares of the health services provider’s stock after selling 3,907 shares during the quarter. Brown Financial Advisors’ holdings in The Cigna Group were worth $428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Coldstream Capital Management Inc. grew its position in shares of The Cigna Group by 11.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,016 shares of the health services provider’s stock valued at $1,731,000 after purchasing an additional 512 shares during the period. Geode Capital Management LLC grew its position in shares of The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after purchasing an additional 22,408 shares during the period. Brophy Wealth Management LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at approximately $869,000. Vestcor Inc grew its position in shares of The Cigna Group by 4.7% in the 3rd quarter. Vestcor Inc now owns 21,288 shares of the health services provider’s stock valued at $7,375,000 after purchasing an additional 961 shares during the period. Finally, Geller Advisors LLC grew its position in shares of The Cigna Group by 3.1% in the 3rd quarter. Geller Advisors LLC now owns 1,988 shares of the health services provider’s stock valued at $689,000 after purchasing an additional 59 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Down 2.4 %

Shares of The Cigna Group stock opened at $311.37 on Wednesday. The business has a fifty day simple moving average of $330.47 and a two-hundred day simple moving average of $337.91. The Cigna Group has a 1 year low of $288.88 and a 1 year high of $370.83. The company has a market capitalization of $86.61 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 0.96 and a beta of 0.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating 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 business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the firm posted $6.77 EPS. The company’s quarterly revenue was up 29.8% on a year-over-year basis. Research analysts forecast that The Cigna Group will post 28.49 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.80%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $394.64.

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.