Silvant Capital Management LLC Has $2.80 Million Stock Holdings in The Cigna Group (NYSE:CI)

Silvant Capital Management LLC lowered its holdings in The Cigna Group (NYSE:CI) by 11.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,084 shares of the health services provider’s stock after selling 1,033 shares during the quarter. Silvant Capital Management LLC’s holdings in The Cigna Group were worth $2,801,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CI. Van ECK Associates Corp boosted its stake in The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after acquiring an additional 625 shares during the last quarter. Hancock Whitney Corp lifted its position in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after buying an additional 1,629 shares during the last quarter. ORG Partners LLC bought a new position in shares of The Cigna Group during the 2nd quarter worth $489,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of The Cigna Group by 21.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock worth $34,304,000 after acquiring an additional 16,846 shares during the period. Finally, Tidal Investments LLC increased its holdings in The Cigna Group by 36.0% in the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after acquiring an additional 4,043 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CI. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Barclays increased their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $392.29.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Performance

NYSE:CI opened at $316.70 on Friday. The stock has a market cap of $88.53 billion, a P/E ratio of 24.92, a PEG ratio of 0.95 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $345.77 and its two-hundred day moving average price is $341.55. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its 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 Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the firm posted $6.77 earnings per share. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, equities analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.77%. The Cigna Group’s dividend payout ratio (DPR) is presently 44.06%.

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.