The Cigna Group (NYSE:CI) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in The Cigna Group (NYSE:CI) by 46.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,519 shares of the health services provider’s stock after selling 3,962 shares during the period. Pitcairn Co.’s holdings in The Cigna Group were worth $1,566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in The Cigna Group during the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC boosted its stake 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 valued at $36,000 after purchasing an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the 3rd quarter valued at about $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the 3rd quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of The Cigna Group during the 2nd quarter worth about $66,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on CI shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Barclays boosted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One 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. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Price Performance

NYSE CI opened at $328.45 on Friday. 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 has a 12-month low of $253.95 and a 12-month high of $370.83. The company has a market capitalization of $91.36 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. The firm’s 50 day moving average is $335.43 and its 200-day moving average is $338.82.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the business earned $6.77 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. Equities research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed 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 is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.70%. The Cigna Group’s dividend payout ratio (DPR) is 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.