MAI Capital Management cut its position in The Cigna Group (NYSE:CI - Free Report) by 22.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,009 shares of the health services provider's stock after selling 2,622 shares during the quarter. MAI Capital Management's holdings in The Cigna Group were worth $3,121,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC grew its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group in the third quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group in the second quarter worth approximately $66,000. Finally, Private Ocean LLC grew its position in The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider's stock worth $66,000 after acquiring an additional 46 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.
The Cigna Group Price Performance
The Cigna Group stock traded up $0.89 during midday trading on Wednesday, reaching $323.39. The company's stock had a trading volume of 1,527,310 shares, compared to its average volume of 1,542,903. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. 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 business has a 50-day moving average price of $337.46 and a 200-day moving average price of $339.14. The stock has a market cap of $89.95 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51.
The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business's quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business posted $6.77 earnings per share. On average, sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current year.
The Cigna Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's payout ratio is presently 52.83%.
Wall Street Analysts Forecast Growth
CI has been the subject of a number of analyst reports. Royal Bank of Canada reduced 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 note on Friday, November 1st. Barclays upped their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Piper Sandler reissued an "overweight" rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered 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 report on Monday, November 4th. One 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $394.64.
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The Cigna Group Company Profile
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Free Report)
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.
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