The Cigna Group (NYSE:CI) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd reduced its position in shares of The Cigna Group (NYSE:CI) by 63.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 292 shares of the health services provider’s stock after selling 514 shares during the period. Harvest Fund Management Co. Ltd’s holdings in The Cigna Group were worth $101,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its holdings in The Cigna Group by 5.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 5,338 shares of the health services provider’s stock worth $1,849,000 after buying an additional 285 shares during the last quarter. Douglass Winthrop Advisors LLC raised its position in shares of The Cigna Group by 5.3% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 9,860 shares of the health services provider’s stock worth $3,416,000 after acquiring an additional 495 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in The Cigna Group by 60.4% during the third quarter. Daiwa Securities Group Inc. now owns 54,617 shares of the health services provider’s stock worth $18,921,000 after purchasing an additional 20,571 shares during the last quarter. Marco Investment Management LLC boosted its holdings in The Cigna Group by 0.8% in the third quarter. Marco Investment Management LLC now owns 72,388 shares of the health services provider’s stock valued at $25,078,000 after purchasing an additional 578 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its stake in The Cigna Group by 21.3% in the third quarter. Summit Trail Advisors LLC now owns 2,034 shares of the health services provider’s stock valued at $705,000 after purchasing an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $336.55 on Thursday. The business has a 50 day moving average price of $333.94 and a 200 day moving average price of $338.52. 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 capitalization of $93.61 billion, a P/E ratio of 31.75, a PEG ratio of 1.00 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 announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business 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 business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the business posted $6.77 earnings per share. Sell-side analysts expect 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 given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The Cigna Group’s dividend payout ratio is presently 52.83%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CI. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft cut their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price 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.