Harfst & Associates Inc. Sells 4,753 Shares of The Cigna Group (NYSE:CI)

Harfst & Associates Inc. reduced its position in shares of The Cigna Group (NYSE:CI) by 83.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 951 shares of the health services provider’s stock after selling 4,753 shares during the period. Harfst & Associates Inc.’s holdings in The Cigna Group were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Adero Partners LLC grew its stake in shares of The Cigna Group by 4.5% during the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after acquiring an additional 34 shares during the period. CreativeOne Wealth LLC grew its stake in shares of The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after acquiring an additional 35 shares during the period. Hudson Edge Investment Partners Inc. grew its stake in shares of The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after acquiring an additional 36 shares during the period. Smithfield Trust Co grew its stake in shares of The Cigna Group by 3.6% during the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock worth $373,000 after acquiring an additional 38 shares during the period. Finally, Griffin Asset Management Inc. grew its stake in shares of The Cigna Group by 0.6% during the 4th quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider’s stock worth $1,869,000 after acquiring an additional 39 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $305.15 on Thursday. The stock has a market cap of $84.88 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 0.98 and a beta of 0.54. 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 Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock’s 50-day moving average is $288.33 and its 200 day moving average is $318.98.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results 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 in the prior year, the business earned $6.79 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.98%. 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%.

Wall Street Analyst Weigh In

CI has been the subject of several analyst reports. Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays cut their target price on 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. Finally, Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group 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.