The Cigna Group (NYSE:CI) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. reduced its holdings in The Cigna Group (NYSE:CI) by 1.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,565 shares of the health services provider’s stock after selling 190 shares during the quarter. New England Asset Management Inc.’s holdings in The Cigna Group were worth $5,046,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CI. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the second quarter valued at about $33,000. Ulland Investment Advisors LLC grew its holdings in shares of The Cigna Group by 2,500.0% in the 3rd 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 during the period. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the 3rd quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in The Cigna Group during the second quarter worth $66,000. Finally, Private Ocean LLC boosted its position in The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CI shares. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler restated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $394.64.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $322.40 on Tuesday. The company has a market cap of $89.68 billion, a P/E ratio of 30.42, a P/E/G ratio of 0.97 and a beta of 0.51. The business has a fifty day simple moving average of $338.17 and a 200-day simple moving average of $339.27. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. 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 posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 EPS. Equities research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.