Van ECK Associates Corp Lowers Stock Position in The Cigna Group (NYSE:CI)

Van ECK Associates Corp decreased its stake in The Cigna Group (NYSE:CI) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,907 shares of the health services provider’s stock after selling 230 shares during the period. Van ECK Associates Corp’s holdings in The Cigna Group were worth $4,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Avidian Wealth Enterprises LLC raised its holdings in The Cigna Group by 24.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 3,637 shares of the health services provider’s stock valued at $1,004,000 after acquiring an additional 723 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of The Cigna Group in the fourth quarter worth approximately $136,000. Certuity LLC boosted its holdings in shares of The Cigna Group by 86.2% in the 4th quarter. Certuity LLC now owns 1,896 shares of the health services provider’s stock valued at $524,000 after purchasing an additional 878 shares during the last quarter. Portfolio Design Labs LLC boosted its holdings in The Cigna Group by 59.1% in the fourth quarter. Portfolio Design Labs LLC now owns 8,073 shares of the health services provider’s stock valued at $2,229,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Collier Financial purchased a new stake in The Cigna Group during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. Stephens cut their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Cantor Fitzgerald cut their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Morgan Stanley cut their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Finally, StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $373.69.

The Cigna Group Stock Performance

NYSE:CI opened at $297.27 on Thursday. The firm has a market capitalization of $82.69 billion, a PE ratio of 24.29, a PEG ratio of 0.96 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm’s fifty day simple moving average is $285.65 and its 200 day simple moving average is $319.92.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 last year, the firm posted $6.79 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.03%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

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.