International Assets Investment Management LLC lessened its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 99.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 832 shares of the health services provider's stock after selling 399,208 shares during the quarter. International Assets Investment Management LLC's holdings in The Cigna Group were worth $228,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the business. Ulland Investment Advisors LLC lifted 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 during the last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group in the third quarter worth $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the third quarter worth $45,000. Intact Investment Management Inc. bought a new position in The Cigna Group in the third quarter valued at $69,000. Finally, Stone House Investment Management LLC raised its position in The Cigna Group by 25.0% during the third quarter. Stone House Investment Management LLC now owns 200 shares of the health services provider's stock valued at $69,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently commented on CI shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. StockNews.com cut The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Piper Sandler reiterated an "overweight" rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Stephens restated an "overweight" rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Finally, Truist Financial decreased their price target on The Cigna Group from $420.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $395.93.
View Our Latest Stock Analysis on CI
The Cigna Group Stock Up 0.9 %
Shares of CI traded up $2.50 during mid-day trading on Tuesday, hitting $284.95. The company's stock had a trading volume of 2,173,146 shares, compared to its average volume of 1,420,818. 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 company's 50-day moving average is $303.49 and its 200-day moving average is $327.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market capitalization of $79.26 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 0.88 and a beta of 0.54.
The Cigna Group (NYSE:CI - Get Free Report) last issued 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 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 the consensus estimate of $59.58 billion. During the same quarter last year, the company earned $6.77 earnings per share. The company's quarterly revenue was up 29.8% on a year-over-year basis. On average, equities research analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.
The Cigna Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The Cigna Group's payout ratio is currently 52.83%.
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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