Martingale Asset Management L P Sells 9,313 Shares of The Cigna Group (NYSE:CI)

Martingale Asset Management L P trimmed its position in shares of The Cigna Group (NYSE:CI) by 9.7% during the third quarter, according to its most recent filing 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CI. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the 2nd quarter worth $33,000. Ulland Investment Advisors LLC boosted its holdings in 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 worth $36,000 after acquiring an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the 3rd quarter worth $37,000. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group during the 3rd quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group during the 2nd quarter worth $66,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.4 %

CI opened at $336.50 on Friday. The stock has a market cap of $93.60 billion, a PE ratio of 31.75, a P/E/G ratio of 1.01 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The business’s fifty day simple moving average is $333.52 and its 200 day simple moving average is $338.51.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 earnings per share. As a group, research analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 annualized dividend and a dividend yield of 1.66%. The Cigna Group’s payout ratio is presently 52.83%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CI shares. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays increased their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced 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. Finally, Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, 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.