The Cigna Group (NYSE:CI) Shares Acquired by Parnassus Investments LLC

Parnassus Investments LLC raised its position in shares of The Cigna Group (NYSE:CI) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,922,121 shares of the health services provider’s stock after buying an additional 59,011 shares during the quarter. The Cigna Group comprises 2.1% of Parnassus Investments LLC’s portfolio, making the stock its 15th largest position. Parnassus Investments LLC owned approximately 1.05% of The Cigna Group worth $1,012,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CI. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the 3rd quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group during the 2nd quarter valued at $66,000. Finally, Private Ocean LLC lifted its holdings in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $322.40 on Tuesday. The firm has a market cap of $89.68 billion, a price-to-earnings ratio of 30.42, a PEG 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 company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 earnings per share. On average, equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Royal Bank of Canada lowered their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, 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. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The Cigna Group presently has a consensus 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.