Mascoma Wealth Management LLC Decreases Stock Holdings in Cigna Group (NYSE:CI)

Mascoma Wealth Management LLC trimmed its position in shares of Cigna Group (NYSE:CI) by 52.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245 shares of the health services provider’s stock after selling 270 shares during the period. Mascoma Wealth Management LLC’s holdings in Cigna Group were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CI. Norges Bank bought a new position in shares of Cigna Group during the 4th quarter valued at approximately $867,785,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Cigna Group during the 4th quarter valued at approximately $724,517,000. GAMMA Investing LLC increased its position in shares of Cigna Group by 58,799.0% during the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock valued at $583,852,000 after purchasing an additional 1,771,613 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Cigna Group during the 4th quarter valued at approximately $313,911,000. Finally, GQG Partners LLC increased its position in shares of Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Trading Down 1.0%

Shares of NYSE CI opened at $326.68 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $87.27 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business has a fifty day moving average price of $320.64 and a 200 day moving average price of $307.81.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The firm had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the prior year, the business posted $6.47 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. Equities research analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CI. TD Cowen raised Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Wall Street Zen raised Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Mizuho upped their price objective on Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Cantor Fitzgerald upped their price objective on Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Finally, Truist Financial upped their price objective on Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.