Quarry LP Sells 522 Shares of The Cigna Group (NYSE:CI)

Quarry LP decreased its holdings in shares of The Cigna Group (NYSE:CI) by 74.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182 shares of the health services provider’s stock after selling 522 shares during the period. Quarry LP’s holdings in The Cigna Group were worth $63,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CI. TruNorth Capital Management LLC bought a new position in The Cigna Group in the second quarter worth about $33,000. Ulland Investment Advisors LLC raised its position 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 worth $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group in the 3rd quarter valued at approximately $37,000. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group during the third quarter valued at approximately $45,000. Finally, Private Ocean LLC grew its stake in The Cigna Group by 29.9% in the second 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. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CI shares. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One equities research 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 has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $319.20 on Tuesday. 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 firm has a market cap of $88.79 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50. The business has a 50-day simple moving average of $330.47 and a two-hundred day simple moving average of $337.91. The Cigna Group has a fifty-two week low of $288.88 and a fifty-two week high of $370.83.

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

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.75%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

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.