Citizens Financial Group Inc. RI Cuts Stake in The Cigna Group (NYSE:CI)

Citizens Financial Group Inc. RI lessened its holdings in The Cigna Group (NYSE:CI) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,611 shares of the health services provider’s stock after selling 38 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in The Cigna Group were worth $2,983,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC boosted its holdings in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the 3rd quarter valued at $37,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the 3rd quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group in the 2nd quarter worth about $66,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CI has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered their target price on 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. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One equities 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. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Performance

Shares of CI stock opened at $330.71 on Friday. The company has a market capitalization of $91.99 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. 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 Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company’s 50-day moving average is $336.15 and its 200 day moving average is $338.97.

The Cigna Group (NYSE:CI) last posted 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 Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the company posted $6.77 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, December 4th. 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.