Balboa Wealth Partners Reduces Position in The Cigna Group (NYSE:CI)

Balboa Wealth Partners cut its position in The Cigna Group (NYSE:CI) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 826 shares of the health services provider’s stock after selling 36 shares during the period. Balboa Wealth Partners’ holdings in The Cigna Group were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CI. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group in the 1st quarter valued at $29,000. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group in the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC grew its position 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 buying an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of The Cigna Group in the 2nd quarter valued at $66,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of CI opened at $321.53 on Friday. The company has a 50-day simple moving average of $339.52 and a 200-day simple moving average of $339.91. 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 company has a market capitalization of $89.43 billion, a PE ratio of 30.33, a P/E/G 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 Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate 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 revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted $6.77 EPS. Equities research analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared 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 of this dividend 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 is presently 52.83%.

Insider Activity

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 13.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CI. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One research 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’s stock. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $394.64.

About The Cigna Group

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.