Brookstone Capital Management Sells 347 Shares of The Cigna Group (NYSE:CI)

Brookstone Capital Management decreased its position in shares of The Cigna Group (NYSE:CI) by 25.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new stake in The Cigna Group during the 4th quarter worth approximately $34,000. Ulland Investment Advisors LLC raised its stake in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group during the 3rd quarter valued at approximately $45,000. Finally, Intact Investment Management Inc. purchased a new stake in The Cigna Group during the 3rd quarter valued at approximately $69,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.1 %

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

The Cigna Group (NYSE:CI) last released 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 revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $6.77 earnings per share. Analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were paid a $1.40 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.97%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analyst Weigh In

CI has been the subject of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Truist Financial cut their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. 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 company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $395.93.

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.