Brookstone Capital Management Reduces Holdings in The Cigna Group (NYSE:CI)

Brookstone Capital Management decreased its holdings in shares of The Cigna Group (NYSE:CI) by 25.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 991 shares of the health services provider’s stock after selling 347 shares during the period. Brookstone Capital Management’s holdings in The Cigna Group were worth $274,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CI. XTX Topco Ltd grew its stake in shares of The Cigna Group by 461.6% during the second quarter. XTX Topco Ltd now owns 3,420 shares of the health services provider’s stock worth $1,131,000 after acquiring an additional 2,811 shares during the last quarter. Ieq Capital LLC boosted its position in The Cigna Group by 9.3% in the second quarter. Ieq Capital LLC now owns 10,113 shares of the health services provider’s stock valued at $3,343,000 after buying an additional 860 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in The Cigna Group by 1.4% in 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 buying an additional 31 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in The Cigna Group in the second quarter valued at approximately $614,000. Finally, AE Wealth Management LLC boosted its position in The Cigna Group by 7.1% in the second quarter. AE Wealth Management LLC now owns 3,812 shares of the health services provider’s stock valued at $1,260,000 after buying an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.1 %

Shares of CI stock opened at $284.16 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $79.04 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54. The stock has a 50 day simple moving average of $301.37 and a 200-day simple moving average of $326.78. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

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

The Cigna Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CI shares. Royal Bank of Canada dropped their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial dropped their target price on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $395.93.

About The Cigna Group

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.