Bellevue Group AG Trims Stake in The Cigna Group (NYSE:CI)

Bellevue Group AG lessened its holdings in The Cigna Group (NYSE:CI) by 3.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,407 shares of the health services provider’s stock after selling 4,683 shares during the period. Bellevue Group AG’s holdings in The Cigna Group were worth $41,021,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CI. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group during the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC grew its position in The Cigna Group by 2,500.0% during the third 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. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group during the 2nd quarter valued at $66,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI stock opened at $337.80 on Friday. The firm has a 50-day moving average of $333.16 and a 200 day moving average of $338.37. 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 company has a market cap of $93.96 billion, a P/E ratio of 31.87, a PEG ratio of 1.02 and a beta of 0.51. 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 (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period last year, the business earned $6.77 EPS. The Cigna Group’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business 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 $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Analyst Ratings Changes

Several research firms have weighed in on CI. Royal Bank of Canada lowered their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective 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, Piper Sandler restated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. 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, the stock presently 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.