Mizuho Securities USA LLC Has $6.28 Million Stock Position in The Cigna Group (NYSE:CI)

Mizuho Securities USA LLC reduced its stake in shares of The Cigna Group (NYSE:CI) by 17.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,127 shares of the health services provider’s stock after selling 3,781 shares during the quarter. Mizuho Securities USA LLC’s holdings in The Cigna Group were worth $6,280,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC lifted its holdings in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the third quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group in the second quarter valued at approximately $66,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CI shares. Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Royal Bank of Canada lowered their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays boosted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One investment 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 a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Price Performance

NYSE:CI opened at $330.71 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 12-month low of $253.95 and a 12-month high of $370.83. The stock’s 50 day moving average price is $336.15 and its two-hundred day moving average price is $338.97. The firm has a market capitalization of $91.99 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 0.97 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the company posted $6.77 EPS. On average, analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current 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 dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

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.