Graypoint LLC Has $679,000 Holdings in The Cigna Group (NYSE:CI)

Graypoint LLC decreased its holdings in shares of The Cigna Group (NYSE:CI) by 19.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,459 shares of the health services provider’s stock after selling 582 shares during the quarter. Graypoint LLC’s holdings in The Cigna Group were worth $679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. LPL Financial LLC lifted its stake in The Cigna Group by 18.8% in the 2nd quarter. LPL Financial LLC now owns 148,596 shares of the health services provider’s stock valued at $49,121,000 after purchasing an additional 23,504 shares during the last quarter. BOKF NA increased its holdings in shares of The Cigna Group by 10.2% during the second quarter. BOKF NA now owns 5,932 shares of the health services provider’s stock worth $1,961,000 after buying an additional 551 shares in the last quarter. PFG Advisors lifted its stake in shares of The Cigna Group by 8.8% in the 2nd quarter. PFG Advisors now owns 2,203 shares of the health services provider’s stock valued at $728,000 after acquiring an additional 179 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of The Cigna Group by 9.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,923 shares of the health services provider’s stock valued at $4,603,000 after acquiring an additional 1,206 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in The Cigna Group by 5.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 203,252 shares of the health services provider’s stock worth $67,685,000 after acquiring an additional 10,398 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CI shares. Deutsche Bank Aktiengesellschaft cut their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler reissued an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Stock Performance

Shares of CI stock opened at $278.77 on Friday. The firm has a 50 day moving average of $304.77 and a 200-day moving average of $328.45. The company has a market cap of $77.54 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 0.88 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the company posted $6.77 earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

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.