Meeder Advisory Services Inc. Sells 134 Shares of The Cigna Group (NYSE:CI)

Meeder Advisory Services Inc. trimmed its position in The Cigna Group (NYSE:CI) by 2.3% during the third quarter, Holdings Channel reports. The institutional investor owned 5,570 shares of the health services provider’s stock after selling 134 shares during the quarter. Meeder Advisory Services Inc.’s holdings in The Cigna Group were worth $1,930,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its holdings in The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after acquiring an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares during the last quarter. IFG Advisors LLC lifted its stake in The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its position in shares of The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after buying an additional 32 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of NYSE CI opened at $322.40 on Tuesday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a market capitalization of $89.68 billion, a price-to-earnings ratio of 30.42, a PEG 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 50-day moving average of $338.17 and a 200-day moving average of $339.27.

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

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analyst Weigh In

CI has been the topic of several recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Jefferies Financial Group lifted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $394.64.

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.