Fortem Financial Group LLC Sells 100 Shares of The Cigna Group (NYSE:CI)

Fortem Financial Group LLC lessened its holdings in The Cigna Group (NYSE:CI) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,767 shares of the health services provider’s stock after selling 100 shares during the quarter. Fortem Financial Group LLC’s holdings in The Cigna Group were worth $959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TruNorth Capital Management LLC bought a new stake in The Cigna Group during the second quarter worth $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. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the 3rd quarter valued at approximately $37,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group during the third quarter worth $45,000. Finally, Private Ocean LLC lifted its stake in shares of The Cigna Group by 29.9% in the 2nd 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. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI opened at $311.37 on Wednesday. The Cigna Group has a 52-week low of $288.88 and a 52-week high of $370.83. The stock’s 50-day simple moving average is $330.47 and its 200 day simple moving average is $337.91. 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 stock has a market capitalization of $86.61 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly 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 firm had revenue of $63.70 billion during 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 business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 EPS. Research analysts forecast that The Cigna Group will post 28.49 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 1.80%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of research reports. Barclays boosted 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 report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $394.64.

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.