Chevy Chase Trust Holdings LLC Sells 3,854 Shares of The Cigna Group (NYSE:CI)

Chevy Chase Trust Holdings LLC trimmed its position in shares of The Cigna Group (NYSE:CI) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,365 shares of the health services provider’s stock after selling 3,854 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of The Cigna Group worth $40,693,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the third quarter worth about $37,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $45,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CI has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. 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. Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Barclays cut their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, The Cigna Group currently has a consensus rating of “Moderate Buy” and an average target price of $373.69.

The Cigna Group Stock Performance

NYSE:CI opened at $292.12 on Friday. The company has a fifty day moving average of $286.97 and a 200-day moving average of $321.46. The firm has a market capitalization of $81.25 billion, a P/E ratio of 23.87, a P/E/G ratio of 0.94 and a beta of 0.54. 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 has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the business posted $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

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.