The Cigna Group (NYSE:CI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in The Cigna Group (NYSE:CI) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,913,620 shares of the health services provider’s stock after selling 147,009 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in The Cigna Group were worth $662,955,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CI. Banco Santander S.A. grew its stake in The Cigna Group by 1,749.5% in the third quarter. Banco Santander S.A. now owns 15,147 shares of the health services provider’s stock valued at $5,248,000 after purchasing an additional 14,328 shares in the last quarter. Smithfield Trust Co lifted its holdings in shares of The Cigna Group by 3.6% during the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $373,000 after buying an additional 38 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of The Cigna Group by 1.3% in the 3rd quarter. Pacer Advisors Inc. now owns 21,532 shares of the health services provider’s stock valued at $7,460,000 after buying an additional 268 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in The Cigna Group by 1.2% in the third 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 during the last quarter. Finally, Integrated Investment Consultants LLC raised its position in The Cigna Group by 28.3% during the third quarter. Integrated Investment Consultants LLC now owns 1,074 shares of the health services provider’s stock valued at $372,000 after acquiring an additional 237 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. 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 research report on Monday, November 4th. Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Barclays upped their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Trading Up 2.3 %

Shares of The Cigna Group stock opened at $330.71 on Friday. The company has a market capitalization of $91.99 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 0.97 and a beta of 0.51. 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 fifty day simple moving average of $336.15 and a two-hundred day simple moving average of $338.97. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly 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 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 for the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the prior year, the business posted $6.77 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.69%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 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.