Pine Valley Investments Ltd Liability Co Purchases 3,466 Shares of The Cigna Group (NYSE:CI)

Pine Valley Investments Ltd Liability Co increased its holdings in The Cigna Group (NYSE:CI - Free Report) by 28.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,713 shares of the health services provider's stock after buying an additional 3,466 shares during the period. Pine Valley Investments Ltd Liability Co's holdings in The Cigna Group were worth $5,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC raised 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. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at $45,000. Finally, Private Ocean LLC raised its holdings in shares of The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider's stock worth $66,000 after buying an additional 46 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CI has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Stephens reiterated an "overweight" rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Piper Sandler reiterated an "overweight" rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of "Buy" and a consensus target price of $394.64.

The Cigna Group Trading Down 3.8 %

NYSE:CI traded down $11.07 on Thursday, reaching $282.96. 4,371,043 shares of the stock traded hands, compared to its average volume of 1,574,558. 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 has a 1-year low of $282.27 and a 1-year high of $370.83. The company's 50 day moving average is $328.80 and its 200-day moving average is $337.46. The firm has a market capitalization of $78.71 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share 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 business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The Cigna Group's quarterly revenue was up 29.8% on a year-over-year basis. Equities research analysts anticipate that The Cigna Group will post 28.49 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Wednesday, December 4th. The Cigna Group's dividend payout ratio (DPR) is 52.83%.

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.