Glenmede Trust Co. NA Sells 22,997 Shares of The Cigna Group (NYSE:CI)

Glenmede Trust Co. NA cut its stake in The Cigna Group (NYSE:CI) by 18.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,547 shares of the health services provider’s stock after selling 22,997 shares during the period. Glenmede Trust Co. NA’s holdings in The Cigna Group were worth $36,219,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CI. FMR LLC raised its stake in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after purchasing an additional 130,048 shares during the last quarter. Parnassus Investments LLC lifted its stake in The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after purchasing an additional 59,011 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in The Cigna Group by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after buying an additional 150,765 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after buying an additional 405,694 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.5 %

Shares of NYSE:CI opened at $336.55 on Thursday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The stock’s fifty day moving average price is $333.94 and its 200-day moving average price is $338.52. The company has a market cap of $93.61 billion, a P/E ratio of 31.75, a PEG ratio of 1.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm 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 business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business posted $6.77 earnings per share. Sell-side analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on CI shares. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One equities 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price 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.