Caprock Group LLC Decreases Stake in The Cigna Group (NYSE:CI)

Caprock Group LLC lessened its position in shares of The Cigna Group (NYSE:CI) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,785 shares of the health services provider’s stock after selling 621 shares during the quarter. Caprock Group LLC’s holdings in The Cigna Group were worth $3,737,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the 2nd quarter worth about $33,000. Ulland Investment Advisors LLC grew its position in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the third quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group during the second quarter valued at approximately $66,000. Finally, Private Ocean LLC lifted its stake in shares of The Cigna Group by 29.9% in the 2nd 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 during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock opened at $322.70 on Wednesday. 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 market capitalization of $89.76 billion, a PE ratio of 30.44, a P/E/G ratio of 0.97 and a beta of 0.51. The company has a 50 day moving average price of $337.46 and a 200-day moving average price of $339.14. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last issued its 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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the company posted $6.77 EPS. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CI. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Barclays upped their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $394.64.

The Cigna Group Company 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.