Exencial Wealth Advisors LLC Cuts Stock Position in Cigna Group (NYSE:CI)

Exencial Wealth Advisors LLC lessened its holdings in Cigna Group (NYSE:CI) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,482 shares of the health services provider’s stock after selling 123 shares during the period. Exencial Wealth Advisors LLC’s holdings in Cigna Group were worth $2,133,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CI. Putney Financial Group LLC purchased a new position in shares of Cigna Group in the 4th quarter valued at $36,000. Evermay Wealth Management LLC raised its stake in shares of Cigna Group by 58.6% in the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider’s stock valued at $37,000 after acquiring an additional 41 shares during the period. Transce3nd LLC purchased a new position in shares of Cigna Group in the 4th quarter valued at $38,000. Richardson Financial Services Inc. purchased a new position in shares of Cigna Group in the 1st quarter valued at $38,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Cigna Group in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Trading Down 0.3%

NYSE CI opened at $270.05 on Thursday. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The company has a 50-day simple moving average of $306.22 and a 200-day simple moving average of $311.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $72.08 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.47.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same period in the previous year, the business posted $6.72 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group’s payout ratio is 32.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Morgan Stanley lifted their price target on shares of Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Barclays dropped their price target on shares of Cigna Group from $385.00 to $354.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Mizuho lifted their price target on shares of Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Finally, Robert W. Baird dropped their price target on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and an average target price of $377.72.

Cigna Group 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.