Glenmede Trust Co. NA Lowers Stock Position in The Cigna Group (NYSE:CI)

Glenmede Trust Co. NA trimmed its position in The Cigna Group (NYSE:CI) by 18.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,547 shares of the health services provider’s stock after selling 22,997 shares during the quarter. Glenmede Trust Co. NA’s holdings in The Cigna Group were worth $36,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group in the second quarter worth about $33,000. Ulland Investment Advisors LLC lifted its stake 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 purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in The Cigna Group in the 3rd quarter worth $37,000. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group during the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of The Cigna Group during the second quarter valued at about $66,000. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CI shares. Barclays lifted their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted 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. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Trading Up 0.5 %

The Cigna Group stock opened at $336.55 on Thursday. The stock has a 50-day moving average price of $333.94 and a 200 day moving average price of $338.52. The company has a market capitalization of $93.61 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. 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 (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate 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 business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the firm earned $6.77 EPS. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

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 paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The Cigna Group’s payout ratio is 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.