ING Groep NV Decreases Stock Position in The Cigna Group (NYSE:CI)

ING Groep NV cut its stake in The Cigna Group (NYSE:CI) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,526 shares of the health services provider’s stock after selling 1,861 shares during the period. ING Groep NV’s holdings in The Cigna Group were worth $9,810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CI. Collier Financial acquired a new stake in The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the fourth quarter valued at $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the third quarter valued at $37,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter valued at $37,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group in the third quarter valued at $45,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CI. Truist Financial cut their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. Raymond James restated a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $373.69.

The Cigna Group Stock Performance

Shares of CI stock opened at $299.92 on Friday. The stock has a market capitalization of $83.42 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock’s 50-day moving average price is $286.35 and its 200 day moving average price is $319.60. 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 (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $6.79 earnings per share. As a group, equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 45.75%.

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.