Truist Financial Corp Sells 9,782 Shares of The Cigna Group (NYSE:CI)

Truist Financial Corp lowered its stake in The Cigna Group (NYSE:CI) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,494 shares of the health services provider’s stock after selling 9,782 shares during the quarter. Truist Financial Corp’s holdings in The Cigna Group were worth $15,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its position in shares of The Cigna Group by 3.4% during the fourth quarter. CIBC Asset Management Inc now owns 42,843 shares of the health services provider’s stock worth $11,831,000 after purchasing an additional 1,411 shares in the last quarter. Highview Capital Management LLC DE purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $287,000. Sanctuary Advisors LLC grew its position in shares of The Cigna Group by 2.5% during the fourth quarter. Sanctuary Advisors LLC now owns 50,099 shares of the health services provider’s stock worth $14,177,000 after purchasing an additional 1,239 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $543,000. Finally, Americana Partners LLC grew its position in shares of The Cigna Group by 32.1% during the fourth quarter. Americana Partners LLC now owns 1,234 shares of the health services provider’s stock worth $341,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI opened at $299.90 on Friday. The firm has a market capitalization of $83.42 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.97 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The business has a 50 day simple moving average of $285.99 and a 200-day simple moving average of $319.78. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is a positive change 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 2.01%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.75%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CI shares. Raymond James reiterated a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft cut their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Cantor Fitzgerald cut their price target on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $373.69.

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.