The Cigna Group (NYSE:CI) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its holdings in shares of The Cigna Group (NYSE:CI) by 18.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,790 shares of the health services provider’s stock after selling 3,034 shares during the quarter. iA Global Asset Management Inc.’s holdings in The Cigna Group were worth $4,777,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC grew its stake in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the 3rd quarter worth about $45,000. Finally, Private Ocean LLC boosted its holdings in The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $317.81 on Friday. 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 firm has a market capitalization of $88.40 billion, a P/E ratio of 29.98, a PEG ratio of 0.99 and a beta of 0.50. The company’s fifty day moving average is $331.01 and its two-hundred day moving average is $338.03.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the previous year, the firm earned $6.77 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. Analysts forecast that The Cigna Group will post 28.49 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.76%. The Cigna Group’s payout ratio is 52.83%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CI shares. Barclays upped 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Royal Bank of Canada reduced 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 report on Friday, November 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group 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.