Horan Capital Advisors LLC. Reduces Position in The Cigna Group (NYSE:CI)

Horan Capital Advisors LLC. decreased its position in shares of The Cigna Group (NYSE:CI) by 43.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 855 shares of the health services provider’s stock after selling 669 shares during the quarter. Horan Capital Advisors LLC.’s holdings in The Cigna Group were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its position in shares of The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of The Cigna Group by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after acquiring an additional 130,048 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of The Cigna Group by 0.4% during 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 acquiring an additional 22,408 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after acquiring an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of The Cigna Group by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after acquiring an additional 44,810 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $311.50 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a fifty day moving average price of $290.14 and a 200 day moving average price of $318.34. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market cap of $86.64 billion, a PE ratio of 25.45, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly 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 return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the company earned $6.79 EPS. Sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current 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 $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.94%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial decreased their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $372.31.

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.