Pallas Capital Advisors LLC cut its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 50.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,362 shares of the health services provider's stock after selling 1,398 shares during the quarter. Pallas Capital Advisors LLC's holdings in The Cigna Group were worth $376,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth $34,000. Ulland Investment Advisors LLC grew its stake in The Cigna Group by 2,500.0% in 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 position in The Cigna Group in the 3rd quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the 3rd quarter worth about $45,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter worth about $69,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
The Cigna Group Stock Performance
Shares of NYSE CI traded down $3.52 during trading hours on Thursday, hitting $281.06. 2,013,297 shares of the company's stock were exchanged, compared to its average volume of 1,509,210. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock has a market capitalization of $78.18 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 0.75 and a beta of 0.54. The company's 50-day moving average price is $302.88 and its 200-day moving average price is $327.39. 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 (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. The Cigna Group's revenue was up 29.8% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.
The Cigna Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Wednesday, December 4th. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.
Analyst Ratings Changes
Several equities research analysts recently commented on CI shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a report on Monday, November 4th. Finally, Truist Financial lowered their target price on shares of The Cigna Group from $420.00 to $390.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. 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 stock. According to MarketBeat, The Cigna Group presently has a consensus rating of "Buy" and a consensus target price of $395.93.
Check Out Our Latest Analysis on CI
About The Cigna Group
(
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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