Metis Global Partners LLC Buys 237 Shares of The Cigna Group (NYSE:CI)

Metis Global Partners LLC grew its stake in The Cigna Group (NYSE:CI) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,809 shares of the health services provider’s stock after acquiring an additional 237 shares during the quarter. Metis Global Partners LLC’s holdings in The Cigna Group were worth $4,091,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CI. Curi RMB Capital LLC purchased a new stake in shares of The Cigna Group during the third quarter valued at $330,000. Aubrey Capital Management Ltd purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at about $334,000. Zions Bancorporation N.A. boosted its holdings in shares of The Cigna Group by 9.4% in the third quarter. Zions Bancorporation N.A. now owns 943 shares of the health services provider’s stock worth $327,000 after buying an additional 81 shares during the last quarter. Huntington National Bank boosted its stake in shares of The Cigna Group by 2.5% during the 3rd quarter. Huntington National Bank now owns 7,558 shares of the health services provider’s stock worth $2,618,000 after acquiring an additional 181 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in The Cigna Group by 4.5% during the third quarter. Plato Investment Management Ltd now owns 14,727 shares of the health services provider’s stock valued at $5,097,000 after purchasing an additional 637 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $323.88 on Friday. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The stock has a market capitalization of $90.09 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 1.02 and a beta of 0.51. The company has a 50-day simple moving average of $340.14 and a 200-day simple moving average of $340.02. 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 posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share 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 company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the firm earned $6.77 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.73%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analysts Set New Price Targets

Several research firms have weighed in on CI. Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on 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 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 MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus price target of $394.64.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The trade was a 13.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

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.