Parsifal Capital Management LP Sells 10,203 Shares of The Cigna Group (NYSE:CI)

Parsifal Capital Management LP lessened its holdings in The Cigna Group (NYSE:CI) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,052 shares of the health services provider’s stock after selling 10,203 shares during the quarter. The Cigna Group accounts for approximately 3.2% of Parsifal Capital Management LP’s holdings, making the stock its 14th biggest holding. Parsifal Capital Management LP’s holdings in The Cigna Group were worth $47,480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CI. FMR LLC grew its holdings in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after buying an additional 130,048 shares in the last quarter. Parnassus Investments LLC lifted its position in The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after buying an additional 59,011 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in The Cigna Group by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after buying an additional 150,765 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in The Cigna Group by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after buying an additional 44,810 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $334.90 on Wednesday. The company has a market cap of $93.15 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.01 and a beta of 0.50. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company’s fifty day simple moving average is $332.43 and its 200 day simple moving average is $338.30. 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 Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for 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 firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.77 earnings per share. On average, research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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 of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of several research reports. Barclays upped their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. 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. 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. Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, 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. One investment 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. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus target price 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.