Martingale Asset Management L P Has $30.16 Million Position in The Cigna Group (NYSE:CI)

Martingale Asset Management L P lowered its position in The Cigna Group (NYSE:CI) by 9.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,064 shares of the health services provider’s stock after selling 9,313 shares during the quarter. Martingale Asset Management L P’s holdings in The Cigna Group were worth $30,162,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after purchasing an additional 625 shares during the period. Marks Group Wealth Management Inc increased its position in The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after acquiring an additional 23,376 shares during the period. ORG Partners LLC bought a new position in The Cigna Group during the second quarter worth about $489,000. Cetera Advisors LLC grew its stake in The Cigna Group by 166.6% during the first quarter. Cetera Advisors LLC now owns 25,771 shares of the health services provider’s stock worth $9,360,000 after buying an additional 16,103 shares in the last quarter. Finally, BDF Gestion acquired a new stake in The Cigna Group during the second quarter worth about $3,131,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CI shares. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada reduced their price objective on shares of 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group raised their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. raised 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 note on Wednesday, August 21st. 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. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $394.64.

The Cigna Group Stock Up 0.4 %

The Cigna Group stock opened at $336.50 on Friday. 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 has a 52-week low of $253.95 and a 52-week high of $370.83. The firm has a 50 day moving average price of $333.52 and a two-hundred day moving average price of $338.51. The firm has a market cap of $93.60 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.01 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The company 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 Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.77 EPS. Equities analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

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 paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

The Cigna Group Company 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.