International Assets Investment Management LLC Sells 399,208 Shares of The Cigna Group (NYSE:CI)

International Assets Investment Management LLC decreased its stake in shares of The Cigna Group (NYSE:CI) by 99.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 832 shares of the health services provider’s stock after selling 399,208 shares during the quarter. International Assets Investment Management LLC’s holdings in The Cigna Group were worth $228,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Ulland Investment Advisors LLC increased its holdings in shares of 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 purchasing an additional 100 shares during the period. Prospera Private Wealth LLC bought a new stake in The Cigna Group in the third quarter valued at about $37,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group in the third quarter valued at about $45,000. Intact Investment Management Inc. bought a new stake in The Cigna Group in the third quarter valued at about $69,000. Finally, Stone House Investment Management LLC increased its stake in The Cigna Group by 25.0% in the third quarter. Stone House Investment Management LLC now owns 200 shares of the health services provider’s stock valued at $69,000 after acquiring an additional 40 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $281.54 on Tuesday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm’s 50 day moving average is $304.16 and its 200-day moving average is $328.02. The firm has a market capitalization of $78.31 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 0.88 and a beta of 0.54. 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 announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the prior year, the business earned $6.77 earnings per share. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. Sell-side analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Truist Financial lowered their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.