PNC Financial Services Group Inc. grew its holdings in The Cigna Group (NYSE:CI - Free Report) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,339 shares of the health services provider's stock after acquiring an additional 7,996 shares during the period. PNC Financial Services Group Inc. owned about 0.13% of The Cigna Group worth $125,529,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC increased its stake in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group during the 2nd quarter valued at approximately $66,000. Finally, Private Ocean LLC grew its holdings in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider's stock valued at $66,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.
The Cigna Group Price Performance
CI traded up $0.86 during midday trading on Wednesday, hitting $323.36. 1,527,310 shares of the company traded hands, compared to its average volume of 1,542,903. 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 52-week low of $253.95 and a 52-week high of $370.83. The company has a market capitalization of $89.94 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 0.97 and a beta of 0.51. The business has a 50 day simple moving average of $336.78 and a two-hundred day simple moving average of $339.03.
The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating 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 analysts' expectations of $59.58 billion. During the same period in the prior year, the business earned $6.77 earnings per share. The company's quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.
The Cigna Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Wednesday, December 4th. The Cigna Group's payout ratio is 52.83%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Piper Sandler reissued an "overweight" rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Barclays increased their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com lowered The Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. One investment 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $394.64.
Check Out Our Latest Research Report on The Cigna Group
The Cigna Group Profile
(
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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