The Cigna Group (NYSE:CI) is Banyan Capital Management Inc.’s 2nd Largest Position

Banyan Capital Management Inc. boosted its position in shares of The Cigna Group (NYSE:CI) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,225 shares of the health services provider’s stock after acquiring an additional 93 shares during the period. The Cigna Group accounts for 10.7% of Banyan Capital Management Inc.’s holdings, making the stock its 2nd biggest position. Banyan Capital Management Inc.’s holdings in The Cigna Group were worth $18,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CI. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group in the second quarter worth $33,000. Ulland Investment Advisors LLC raised its holdings in shares of 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 buying an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group in the third quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of The Cigna Group in the second quarter worth $66,000. Finally, Private Ocean LLC raised 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 worth $66,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.7 %

Shares of NYSE CI opened at $321.52 on Monday. The company’s 50-day simple moving average is $338.88 and its 200-day simple moving average is $339.42. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The firm has a market cap of $89.43 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. 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 (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for 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 company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 earnings per share. Equities analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend 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%.

Analysts Set New Price Targets

CI has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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 reduced their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $394.64.

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.