Pathstone Holdings LLC Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Pathstone Holdings LLC lessened its holdings in The Cigna Group (NYSE:CI) by 1.5% during the third quarter, HoldingsChannel.com reports. The fund owned 46,646 shares of the health services provider’s stock after selling 706 shares during the quarter. Pathstone Holdings LLC’s holdings in The Cigna Group were worth $16,160,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group during the second quarter worth about $33,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the 3rd quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group in the second quarter valued at approximately $66,000. Finally, Private Ocean LLC raised its stake in shares of The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.1 %

The Cigna Group stock opened at $322.70 on Wednesday. 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 Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm’s 50-day moving average is $337.46 and its 200-day moving average is $339.14. The company has a market cap of $89.76 billion, a P/E ratio of 30.44, a PEG ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.77 earnings per share. On average, equities analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CI shares. Barclays upped 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. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada cut their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company 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.