D.A. Davidson & CO. Sells 3,231 Shares of The Cigna Group (NYSE:CI)

D.A. Davidson & CO. lowered its position in shares of The Cigna Group (NYSE:CI) by 15.2% in the third quarter, Holdings Channel reports. The institutional investor owned 17,989 shares of the health services provider’s stock after selling 3,231 shares during the period. D.A. Davidson & CO.’s holdings in The Cigna Group were worth $6,232,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC raised its position in shares of The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Dai ichi Life Insurance Company Ltd increased its stake in The Cigna Group by 35.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 65,940 shares of the health services provider’s stock worth $22,844,000 after acquiring an additional 17,326 shares during the period. The Manufacturers Life Insurance Company raised its holdings in The Cigna Group by 6.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 729,252 shares of the health services provider’s stock valued at $252,642,000 after acquiring an additional 45,891 shares in the last quarter. Qsemble Capital Management LP bought a new stake in shares of The Cigna Group during the 3rd quarter valued at $4,325,000. Finally, Private Trust Co. NA lifted its position in shares of The Cigna Group by 3.1% during the 3rd quarter. Private Trust Co. NA now owns 2,421 shares of the health services provider’s stock valued at $839,000 after acquiring an additional 73 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $336.55 on Thursday. The company has a market capitalization of $93.61 billion, a PE ratio of 31.75, a P/E/G ratio of 1.00 and a beta of 0.51. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. 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 company has a 50 day simple moving average of $333.94 and a two-hundred day simple moving average of $338.52.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.77 EPS. Research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business 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 dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The Cigna Group’s payout ratio is presently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. One research 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. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average price target of $394.64.

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.