Virtu Financial LLC lifted its holdings in The Cigna Group (NYSE:CI - Free Report) by 39.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,173 shares of the health services provider's stock after acquiring an additional 4,870 shares during the period. Virtu Financial LLC's holdings in The Cigna Group were worth $5,949,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of The Cigna Group by 3.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 35,851 shares of the health services provider's stock valued at $11,851,000 after buying an additional 1,073 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of The Cigna Group during the second quarter valued at approximately $313,000. Montecito Bank & Trust acquired a new position in shares of The Cigna Group during the second quarter worth $276,000. Swedbank AB boosted its stake in shares of The Cigna Group by 1.5% in the second quarter. Swedbank AB now owns 450,602 shares of the health services provider's stock valued at $148,956,000 after purchasing an additional 6,481 shares during the period. Finally, Fiduciary Financial Group LLC purchased a new position in shares of The Cigna Group in the second quarter valued at $362,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Stephens restated an "overweight" rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $394.64.
Get Our Latest Analysis on CI
The Cigna Group Stock Performance
Shares of The Cigna Group stock traded down $8.57 during trading hours on Thursday, reaching $285.46. The company's stock had a trading volume of 2,653,177 shares, compared to its average volume of 1,567,047. The stock has a market cap of $79.40 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50. The Cigna Group has a one year low of $285.18 and a one year high of $370.83. The company's 50 day simple moving average is $328.80 and its 200 day simple moving average is $337.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.
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 company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group's quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.77 earnings per share. As a group, analysts expect that The Cigna Group will post 28.49 EPS for the current fiscal year.
The Cigna Group Dividend Announcement
The business 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 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's dividend payout ratio is presently 52.83%.
The Cigna Group 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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