Woodmont Investment Counsel LLC Decreases Stake in Cigna Group (NYSE:CI)

Woodmont Investment Counsel LLC lowered its stake in Cigna Group (NYSE:CI) by 18.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 647 shares of the health services provider’s stock after selling 146 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Cigna Group were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CI. TCTC Holdings LLC bought a new stake in shares of Cigna Group in the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in Cigna Group during the 4th quarter valued at approximately $36,000. Transce3nd LLC purchased a new stake in Cigna Group in the 4th quarter worth approximately $38,000. Ameriflex Group Inc. bought a new stake in shares of Cigna Group in the 4th quarter worth approximately $44,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Cigna Group in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Trading Down 0.2%

NYSE CI opened at $313.76 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market capitalization of $83.82 billion, a PE ratio of 17.37, a P/E/G ratio of 0.93 and a beta of 0.44. The stock’s 50 day moving average is $321.48 and its 200 day moving average is $307.63.

Cigna Group (NYSE:CI) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the company posted $6.47 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.93%. The ex-dividend date was Tuesday, June 3rd. Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cowen reissued a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Morgan Stanley boosted their target price on Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Barclays reissued an “overweight” rating and set a $385.00 target price (up from $382.00) on shares of Cigna Group in a research note on Monday, June 2nd. Guggenheim reissued a “buy” rating and set a $388.00 target price on shares of Cigna Group in a research note on Friday, May 23rd. Finally, Piper Sandler boosted their target price on Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $380.39.

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.