The Cigna Group (NYSE:CI) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its stake in shares of The Cigna Group (NYSE:CI) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in The Cigna Group by 23.3% in the first quarter. Bessemer Group Inc. now owns 28,097 shares of the health services provider’s stock worth $10,205,000 after acquiring an additional 5,308 shares in the last quarter. Crewe Advisors LLC purchased a new stake in The Cigna Group during the first quarter worth about $101,000. CreativeOne Wealth LLC acquired a new position in The Cigna Group during the first quarter worth about $454,000. Atalanta Sosnoff Capital LLC purchased a new position in The Cigna Group in the first quarter valued at about $80,343,000. Finally, Capital World Investors lifted its position in shares of The Cigna Group by 0.6% during the 1st quarter. Capital World Investors now owns 1,186,982 shares of the health services provider’s stock valued at $431,100,000 after acquiring an additional 6,549 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.1 %

Shares of NYSE:CI opened at $322.70 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market cap of $89.76 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 0.97 and a beta of 0.51. The stock’s 50-day moving average price is $337.46 and its two-hundred day moving average price is $339.14. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. 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. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One research 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’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average 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.