Y Intercept Hong Kong Ltd Sells 5,559 Shares of The Cigna Group (NYSE:CI)

Y Intercept Hong Kong Ltd cut its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 38.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,714 shares of the health services provider's stock after selling 5,559 shares during the period. Y Intercept Hong Kong Ltd's holdings in The Cigna Group were worth $3,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CI. MML Investors Services LLC lifted its stake in shares of The Cigna Group by 6.3% in the 3rd quarter. MML Investors Services LLC now owns 29,633 shares of the health services provider's stock worth $10,266,000 after acquiring an additional 1,760 shares during the period. World Investment Advisors LLC acquired a new stake in The Cigna Group in the third quarter worth approximately $69,972,000. iSAM Funds UK Ltd boosted its stake in The Cigna Group by 41.4% during the 3rd quarter. iSAM Funds UK Ltd now owns 5,106 shares of the health services provider's stock valued at $1,769,000 after purchasing an additional 1,496 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of The Cigna Group by 98.1% during the 3rd quarter. EP Wealth Advisors LLC now owns 10,767 shares of the health services provider's stock valued at $3,730,000 after purchasing an additional 5,333 shares during the period. Finally, Insigneo Advisory Services LLC raised its stake in shares of The Cigna Group by 19.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 2,337 shares of the health services provider's stock worth $810,000 after buying an additional 376 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CI shares. Barclays lifted their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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. Cantor Fitzgerald reissued an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Stephens restated an "overweight" rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Piper Sandler reiterated an "overweight" rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One investment 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $394.64.

The Cigna Group Stock Down 2.4 %

Shares of CI traded down $7.78 during trading hours on Tuesday, reaching $311.37. The company's stock had a trading volume of 2,610,446 shares, compared to its average volume of 1,551,353. The company has a 50 day moving average of $330.47 and a two-hundred day moving average of $337.91. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market cap of $86.61 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 0.96 and a beta of 0.50. The Cigna Group has a 1-year low of $288.88 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the business earned $6.77 EPS. The company's revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, research analysts predict that The Cigna Group will post 28.49 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Wednesday, December 4th. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

The Cigna Group Profile

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.