AlphaCore Capital LLC Sells 59 Shares of The Cigna Group (NYSE:CI)

AlphaCore Capital LLC reduced its holdings in The Cigna Group (NYSE:CI) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 999 shares of the health services provider’s stock after selling 59 shares during the quarter. AlphaCore Capital LLC’s holdings in The Cigna Group were worth $346,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CI. Price T Rowe Associates Inc. MD raised its position in shares of The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares during the period. AQR Capital Management LLC raised its holdings in The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after buying an additional 600,215 shares during the last quarter. Swedbank AB bought a new position in shares of The Cigna Group in the first quarter valued at $161,300,000. Ameriprise Financial Inc. grew its holdings in shares of The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after buying an additional 405,694 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of The Cigna Group by 145.3% during the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after acquiring an additional 404,791 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft dropped their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Jefferies Financial Group upped their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. 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. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $394.64.

The Cigna Group Stock Performance

NYSE:CI opened at $330.71 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $91.99 billion, a P/E ratio of 31.20, a P/E/G ratio of 0.97 and a beta of 0.51. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The business has a fifty day simple moving average of $336.15 and a two-hundred day simple moving average of $338.97.

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 business had revenue of $63.70 billion for 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 company’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.77 earnings per share. On average, analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

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 given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. 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.