iA Global Asset Management Inc. Has $4.78 Million Holdings in The Cigna Group (NYSE:CI)

iA Global Asset Management Inc. trimmed its position in The Cigna Group (NYSE:CI - Free Report) by 18.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,790 shares of the health services provider's stock after selling 3,034 shares during the quarter. iA Global Asset Management Inc.'s holdings in The Cigna Group were worth $4,777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its position in The Cigna Group by 98.1% in the third quarter. EP Wealth Advisors LLC now owns 10,767 shares of the health services provider's stock worth $3,730,000 after purchasing an additional 5,333 shares during the period. Insigneo Advisory Services LLC increased its position in The Cigna Group by 19.2% in the third quarter. Insigneo Advisory Services LLC now owns 2,337 shares of the health services provider's stock worth $810,000 after purchasing an additional 376 shares during the period. Kovitz Investment Group Partners LLC increased its position in The Cigna Group by 23.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 43,232 shares of the health services provider's stock worth $13,803,000 after purchasing an additional 8,343 shares during the period. Two Sigma Advisers LP increased its position in The Cigna Group by 995.9% in the third quarter. Two Sigma Advisers LP now owns 215,900 shares of the health services provider's stock worth $74,796,000 after purchasing an additional 196,200 shares during the period. Finally, SYM FINANCIAL Corp increased its position in The Cigna Group by 12.5% in the third quarter. SYM FINANCIAL Corp now owns 1,287 shares of the health services provider's stock worth $446,000 after purchasing an additional 143 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 1.5 %

NYSE CI traded down $4.80 during trading on Friday, hitting $317.81. The stock had a trading volume of 1,745,956 shares, compared to its average volume of 1,560,104. The company has a market capitalization of $88.40 billion, a PE ratio of 29.98, a P/E/G ratio of 0.99 and a beta of 0.50. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company's 50-day moving average price is $331.01 and its two-hundred day moving average price is $338.05. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm's revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.77 earnings per share. As a group, sell-side analysts forecast that The Cigna Group will post 28.49 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.76%. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. StockNews.com downgraded shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $394.64.

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.