National Bank of Canada FI Has $72.26 Million Position in The Cigna Group (NYSE:CI)

National Bank of Canada FI lessened its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 34.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 208,575 shares of the health services provider's stock after selling 107,824 shares during the quarter. National Bank of Canada FI owned about 0.07% of The Cigna Group worth $72,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of The Cigna Group by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider's stock worth $4,916,000 after buying an additional 625 shares in the last quarter. Marks Group Wealth Management Inc raised its position in The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider's stock worth $8,319,000 after acquiring an additional 23,376 shares in the last quarter. ORG Partners LLC acquired a new stake in The Cigna Group in the 2nd quarter valued at about $489,000. Raymond James & Associates boosted its position in shares of The Cigna Group by 3.2% during the 2nd quarter. Raymond James & Associates now owns 602,339 shares of the health services provider's stock valued at $199,115,000 after purchasing an additional 18,733 shares in the last quarter. Finally, Trinity Street Asset Management LLP grew its stake in shares of The Cigna Group by 7.1% in the 3rd quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider's stock worth $28,204,000 after purchasing an additional 5,397 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Down 1.5 %

CI traded down $4.80 during trading on Friday, reaching $317.81. 1,745,956 shares of the stock traded hands, compared to its average volume of 1,560,104. The stock's 50-day simple moving average is $331.01 and its two-hundred day simple moving average is $338.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a market cap of $88.40 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.50.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the company earned $6.77 EPS. The firm's revenue was up 29.8% on a year-over-year basis. As a group, equities research analysts expect 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. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's dividend payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays increased 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. Royal Bank of Canada decreased their target price on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. StockNews.com lowered The Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Finally, Piper Sandler restated an "overweight" rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and a consensus target price of $394.64.

About The Cigna Group

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.