The Cigna Group (NYSE:CI) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lessened its stake in The Cigna Group (NYSE:CI) by 31.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,281 shares of the health services provider’s stock after selling 1,487 shares during the period. Anchor Investment Management LLC’s holdings in The Cigna Group were worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ulland Investment Advisors LLC lifted its holdings in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new position in The Cigna Group in the 3rd quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the 3rd quarter worth about $45,000. Private Ocean LLC raised its holdings in The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in The Cigna Group in the 3rd quarter worth about $69,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CI shares. Barclays upped their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Royal Bank of Canada cut their price objective 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. 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. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Price Performance

CI stock opened at $282.90 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50 day simple moving average of $328.80 and a 200-day simple moving average of $337.46. The firm has a market capitalization of $78.69 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50. The Cigna Group has a 1 year low of $282.27 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.77 earnings per share. Equities research analysts anticipate that The Cigna Group will post 28.49 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.98%. The Cigna Group’s payout ratio is 52.83%.

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.