Pitcairn Co. Cuts Stock Holdings in The Cigna Group (NYSE:CI)

Pitcairn Co. trimmed its position in shares of The Cigna Group (NYSE:CI) by 46.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

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

The Cigna Group Price Performance

CI opened at $328.45 on Friday. The company has a 50-day moving average of $335.43 and a 200-day moving average of $338.82. The company has a market capitalization of $91.36 billion, a P/E ratio of 30.99, a PEG ratio of 0.99 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 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 (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.77 EPS. Equities 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 issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada lowered their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective 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. Finally, Barclays raised 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. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $394.64.

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.