The Cigna Group (NYSE:CI) Stake Reduced by Sio Capital Management LLC

Sio Capital Management LLC trimmed its position in The Cigna Group (NYSE:CI) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,503 shares of the health services provider’s stock after selling 283 shares during the quarter. The Cigna Group accounts for 3.6% of Sio Capital Management LLC’s holdings, making the stock its 10th largest holding. Sio Capital Management LLC’s holdings in The Cigna Group were worth $9,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC bought a new position in The Cigna Group in the second quarter worth approximately $33,000. Ulland Investment Advisors LLC increased its holdings in shares of 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 valued at $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the 3rd quarter worth $37,000. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the second quarter valued at about $66,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CI shares. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barclays raised their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler reaffirmed 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $394.64.

The Cigna Group Trading Up 0.4 %

The Cigna Group stock opened at $336.50 on Friday. The stock has a 50-day moving average price of $333.52 and a 200 day moving average price of $338.51. The company has a market capitalization of $93.60 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.01 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 announced 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 business 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 business posted $6.77 EPS. Sell-side analysts anticipate that The Cigna Group will post 28.5 EPS 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. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.66%. 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 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.