Caprock Group LLC Sells 621 Shares of The Cigna Group (NYSE:CI)

Caprock Group LLC trimmed its stake in The Cigna Group (NYSE:CI) by 5.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,785 shares of the health services provider’s stock after selling 621 shares during the quarter. Caprock Group LLC’s holdings in The Cigna Group were worth $3,737,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CI. Checchi Capital Advisers LLC grew its holdings in The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after buying an additional 31 shares during the last quarter. IFG Advisors LLC increased its position in The Cigna Group by 4.6% during the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after buying an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its holdings in The Cigna Group by 2.9% in the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after acquiring an additional 32 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent analyst reports. Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Jefferies Financial Group raised their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Trading Up 0.1 %

The Cigna Group stock opened at $322.70 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $337.46 and its two-hundred day simple moving average is $339.14. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The firm has a market cap of $89.76 billion, a PE ratio of 30.44, 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 the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the company posted $6.77 EPS. Analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently announced 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. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. 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.