Chevy Chase Trust Holdings LLC Has $52.39 Million Stock Holdings in The Cigna Group (NYSE:CI)

Chevy Chase Trust Holdings LLC trimmed its stake in shares of The Cigna Group (NYSE:CI) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,219 shares of the health services provider’s stock after selling 5,192 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of The Cigna Group worth $52,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CI. TruNorth Capital Management LLC bought a new position in The Cigna Group during the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC increased its holdings in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the 2nd quarter worth approximately $66,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Down 0.2 %

NYSE:CI opened at $337.14 on Tuesday. 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 stock’s fifty day simple moving average is $333.16 and its 200-day simple moving average is $338.34. The firm has a market capitalization of $93.77 billion, a P/E ratio of 31.81, a P/E/G ratio of 1.02 and a beta of 0.51.

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

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analyst Ratings Changes

Several brokerages have issued reports on CI. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $394.64.

About The Cigna Group

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.