The Cigna Group (NYSE:CI) Shares Sold by Brendel Financial Advisors LLC

Brendel Financial Advisors LLC cut its holdings in shares of The Cigna Group (NYSE:CI) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 940 shares of the health services provider’s stock after selling 99 shares during the quarter. Brendel Financial Advisors LLC’s holdings in The Cigna Group were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in 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 buying an additional 202,161 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $1,029,000. Pines Wealth Management LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $274,000. Wynn Capital LLC increased its position in shares of The Cigna Group by 1.9% in the 4th quarter. Wynn Capital LLC now owns 3,416 shares of the health services provider’s stock valued at $943,000 after purchasing an additional 65 shares during the last quarter. Finally, Fiduciary Financial Group LLC increased its position in shares of The Cigna Group by 8.2% in the 4th quarter. Fiduciary Financial Group LLC now owns 1,247 shares of the health services provider’s stock valued at $348,000 after purchasing an additional 95 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CI shares. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. 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 on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One investment 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 company’s stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $395.93.

The Cigna Group Stock Up 0.9 %

Shares of NYSE:CI opened at $284.95 on Wednesday. The stock has a market cap of $79.26 billion, a P/E ratio of 26.88, a P/E/G ratio of 0.88 and a beta of 0.54. The firm has a fifty day moving average price of $303.49 and a 200 day moving average price of $327.70. 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 Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

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

The Cigna Group Announces Dividend

The firm 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 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

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.