The Cigna Group (NYSE:CI) Shares Sold by Quest Partners LLC

Quest Partners LLC decreased its holdings in shares of The Cigna Group (NYSE:CI) by 17.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,529 shares of the health services provider’s stock after selling 1,186 shares during the quarter. Quest Partners LLC’s holdings in The Cigna Group were worth $1,915,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in CI. AMG National Trust Bank increased its stake in The Cigna Group by 5.7% in the 3rd quarter. AMG National Trust Bank now owns 4,072 shares of the health services provider’s stock valued at $1,411,000 after buying an additional 218 shares during the period. Aljian Capital Management LLC acquired a new stake in The Cigna Group in the third quarter valued at about $324,000. Swiss National Bank boosted its holdings in The Cigna Group by 0.4% in the 3rd quarter. Swiss National Bank now owns 843,101 shares of the health services provider’s stock valued at $292,084,000 after purchasing an additional 3,100 shares in the last quarter. Claro Advisors LLC raised its stake in shares of The Cigna Group by 40.1% during the 3rd quarter. Claro Advisors LLC now owns 2,480 shares of the health services provider’s stock worth $859,000 after buying an additional 710 shares in the last quarter. Finally, Concord Asset Management LLC VA boosted its stake in shares of The Cigna Group by 11.4% in the third quarter. Concord Asset Management LLC VA now owns 1,075 shares of the health services provider’s stock valued at $372,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI opened at $322.40 on Tuesday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. 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 company’s 50 day simple moving average is $338.17 and its 200 day simple moving average is $339.27. The stock has a market capitalization of $89.68 billion, a PE ratio of 30.42, a P/E/G ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company earned $6.77 EPS. As a group, sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Analyst Upgrades and Downgrades

CI has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their target price 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 set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $394.64.

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.