Prairiewood Capital LLC Lowers Holdings in The Cigna Group (NYSE:CI)

Prairiewood Capital LLC reduced its position in shares of The Cigna Group (NYSE:CI) by 16.6% during the 4th quarter, HoldingsChannel reports. The firm owned 846 shares of the health services provider’s stock after selling 168 shares during the period. Prairiewood Capital LLC’s holdings in The Cigna Group were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares in the last quarter. AE Wealth Management LLC lifted its holdings in The Cigna Group by 7.1% during the second quarter. AE Wealth Management LLC now owns 3,812 shares of the health services provider’s stock worth $1,260,000 after buying an additional 252 shares during the period. Hancock Whitney Corp boosted its position in The Cigna Group by 19.7% during the 2nd quarter. Hancock Whitney Corp now owns 4,529 shares of the health services provider’s stock valued at $1,497,000 after acquiring an additional 746 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of The Cigna Group by 3.8% in the 2nd quarter. ProShare Advisors LLC now owns 46,865 shares of the health services provider’s stock valued at $15,492,000 after acquiring an additional 1,704 shares during the period. Finally, Frank Rimerman Advisors LLC raised its position in shares of The Cigna Group by 168,400.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 5,055 shares of the health services provider’s stock worth $1,671,000 after acquiring an additional 5,052 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

Shares of CI opened at $284.16 on Tuesday. The stock has a 50-day moving average of $301.37 and a two-hundred day moving average of $326.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $79.04 billion, a P/E ratio of 26.81, a P/E/G ratio of 0.75 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, research analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Ratings Changes

CI has been the topic of several analyst reports. Barclays lifted their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their price objective 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. Truist Financial lowered their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. 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 report on Tuesday, November 5th. Finally, Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $395.93.

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.