The Cigna Group (NYSE:CI) Shares Sold by Quest Partners LLC

Quest Partners LLC reduced its holdings in The Cigna Group (NYSE:CI) by 17.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,529 shares of the health services provider’s stock after selling 1,186 shares during the period. Quest Partners LLC’s holdings in The Cigna Group were worth $1,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Edgestream Partners L.P. purchased a new position in The Cigna Group in the 1st quarter valued at $1,763,000. UniSuper Management Pty Ltd grew its stake in The Cigna Group by 175.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 6,780 shares of the health services provider’s stock valued at $2,462,000 after acquiring an additional 4,323 shares in the last quarter. Bessemer Group Inc. grew its stake in The Cigna Group by 23.3% during the 1st quarter. Bessemer Group Inc. now owns 28,097 shares of the health services provider’s stock valued at $10,205,000 after acquiring an additional 5,308 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in The Cigna Group by 55.3% in the 1st quarter. Lake Street Advisors Group LLC now owns 3,629 shares of the health services provider’s stock valued at $1,318,000 after acquiring an additional 1,292 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in shares of The Cigna Group during the 1st quarter worth approximately $101,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CI shares. JPMorgan Chase & Co. increased their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barclays upped their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 report on Monday, November 4th. One 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Up 0.3 %

Shares of The Cigna Group stock opened at $322.40 on Tuesday. 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 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 $89.68 billion, a P/E ratio of 30.42, a P/E/G ratio of 0.97 and a beta of 0.51. The company has a 50 day moving average of $338.17 and a 200 day moving average of $339.27.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the previous year, the company earned $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, research analysts forecast that The Cigna Group will post 28.5 EPS 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. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

About The Cigna Group

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.