Camden National Bank Cuts Stake in The Cigna Group (NYSE:CI)

Camden National Bank reduced its holdings in shares of The Cigna Group (NYSE:CI) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428 shares of the health services provider’s stock after selling 40 shares during the period. Camden National Bank’s holdings in The Cigna Group were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Checchi Capital Advisers LLC boosted its position in The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after acquiring an additional 31 shares during the last quarter. IFG Advisors LLC lifted its position in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after acquiring an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after acquiring an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $328.43 on Friday. 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 has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a 50 day moving average price of $335.43 and a 200 day moving average price of $338.87. The company has a market capitalization of $91.35 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate 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 was up 29.8% on a year-over-year basis. During the same period last year, the firm posted $6.77 EPS. Research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent research reports. Barclays lifted their target price 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. Deutsche Bank Aktiengesellschaft cut their price objective 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. Jefferies Financial Group boosted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One 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, The Cigna Group currently 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.