The Cigna Group (NYSE:CI) Stake Decreased by Cortland Associates Inc. MO

Cortland Associates Inc. MO lessened its stake in shares of The Cigna Group (NYSE:CI) by 1.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 175,439 shares of the health services provider’s stock after selling 2,084 shares during the period. The Cigna Group comprises about 7.4% of Cortland Associates Inc. MO’s holdings, making the stock its 3rd biggest position. Cortland Associates Inc. MO’s holdings in The Cigna Group were worth $60,779,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CI. Cedar Wealth Management LLC bought a new stake in The Cigna Group in the 1st quarter valued at about $29,000. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its holdings in 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 buying 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. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the 2nd quarter valued at $66,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $316.49 on Monday. The firm has a market cap of $88.47 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 0.95 and a beta of 0.51. The company has a 50-day simple moving average of $345.77 and a two-hundred day simple moving average of $341.48. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the firm posted $6.77 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.77%. The Cigna Group’s payout ratio is presently 52.83%.

Insider Activity at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CI. Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Barclays raised their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $392.29.

The Cigna Group 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.