Choreo LLC Reduces Stock Position in The Cigna Group (NYSE:CI)

Choreo LLC cut its stake in The Cigna Group (NYSE:CI) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,170 shares of the health services provider’s stock after selling 1,071 shares during the period. Choreo LLC’s holdings in The Cigna Group were worth $3,076,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CI. International Assets Investment Management LLC increased its holdings in The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after buying an additional 399,230 shares in the last quarter. Swedbank AB increased its stake in shares of The Cigna Group by 55.1% during the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after purchasing an additional 314,123 shares in the last quarter. FMR LLC increased its stake 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 worth $4,929,978,000 after purchasing an additional 279,880 shares in the last quarter. Raymond James & Associates increased its stake in shares of The Cigna Group by 42.8% during the 3rd quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after purchasing an additional 257,711 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after purchasing an additional 202,161 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CI has been the subject of a number of recent research reports. Cantor Fitzgerald dropped their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. UBS Group dropped their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada dropped 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. Stephens dropped their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial lowered their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Down 2.1 %

Shares of CI opened at $287.08 on Friday. The firm has a market cap of $79.85 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The company’s fifty day moving average is $291.86 and its two-hundred day moving average is $323.32. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. 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 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 net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the company earned $6.79 earnings per share. Analysts forecast that The Cigna Group will post 29.66 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

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.