Eastern Bank Sells 265 Shares of The Cigna Group (NYSE:CI)

Eastern Bank cut its holdings in shares of The Cigna Group (NYSE:CI) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,308 shares of the health services provider’s stock after selling 265 shares during the quarter. Eastern Bank’s holdings in The Cigna Group were worth $361,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in The Cigna Group by 3.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 307,177 shares of the health services provider’s stock worth $101,544,000 after acquiring an additional 10,011 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of The Cigna Group by 9.4% during the second quarter. Citizens Financial Group Inc. RI now owns 8,649 shares of the health services provider’s stock valued at $2,859,000 after purchasing an additional 743 shares during the period. Renaissance Technologies LLC grew its holdings in shares of The Cigna Group by 425.9% in the second quarter. Renaissance Technologies LLC now owns 169,659 shares of the health services provider’s stock worth $56,084,000 after purchasing an additional 137,400 shares during the last quarter. Lmcg Investments LLC increased its stake in shares of The Cigna Group by 4.0% in the second quarter. Lmcg Investments LLC now owns 20,159 shares of the health services provider’s stock worth $6,664,000 after buying an additional 768 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in The Cigna Group by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 9,926 shares of the health services provider’s stock valued at $3,281,000 after buying an additional 73 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CI shares. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Jefferies Financial Group upped their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada cut their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Price Performance

Shares of NYSE CI opened at $284.95 on Wednesday. The company has a 50 day simple moving average of $303.49 and a two-hundred day simple moving average of $327.70. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a market capitalization of $79.26 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 0.88 and a beta of 0.54. 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 announced its quarterly earnings data 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 Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the business earned $6.77 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.97%. The Cigna Group’s dividend payout ratio (DPR) is presently 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.