3Chopt Investment Partners LLC Lowers Stock Position in The Cigna Group (NYSE:CI)

3Chopt Investment Partners LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,716 shares of the health services provider’s stock after selling 275 shares during the period. 3Chopt Investment Partners LLC’s holdings in The Cigna Group were worth $3,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in The Cigna Group during the second quarter worth about $33,000. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter worth approximately $45,000. Finally, Private Ocean LLC increased its stake in The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

NYSE:CI opened at $319.20 on Tuesday. The Cigna Group has a 1-year low of $288.88 and a 1-year high of $370.83. The firm has a 50 day simple moving average of $330.47 and a 200-day simple moving average of $337.91. The firm has a market cap of $88.79 billion, a PE ratio of 30.11, a P/E/G ratio of 0.96 and a beta of 0.50. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings results 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 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 the consensus estimate of $59.58 billion. During the same period in the previous year, the firm posted $6.77 EPS. The Cigna Group’s revenue was up 29.8% on a year-over-year basis. On average, equities analysts expect that The Cigna Group will post 28.49 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 $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Barclays increased their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $394.64.

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.