The Cigna Group (NYSE:CI) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lowered its holdings in The Cigna Group (NYSE:CI) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 47,579 shares of the health services provider’s stock after selling 229 shares during the period. Foundry Partners LLC’s holdings in The Cigna Group were worth $16,483,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CI. Price T Rowe Associates Inc. MD increased its stake in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares during the last quarter. AQR Capital Management LLC grew its holdings in The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after purchasing an additional 600,215 shares during the period. Swedbank AB acquired a new position in The Cigna Group during the first quarter worth approximately $161,300,000. Ameriprise Financial Inc. raised its stake in 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 worth $706,822,000 after purchasing an additional 405,694 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of The Cigna Group by 145.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock valued at $225,899,000 after purchasing an additional 404,791 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.3 %

The Cigna Group stock opened at $323.36 on Thursday. 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 Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a 50-day simple moving average of $336.78 and a 200-day simple moving average of $339.03. The firm has a market capitalization of $89.94 billion, a P/E ratio of 30.51, a P/E/G ratio of 0.97 and a beta of 0.51.

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

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on 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 dropped 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 research report on Friday, November 1st. Finally, Barclays boosted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One 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 MarketBeat.com, the stock 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.