Clark Estates Inc. NY Reduces Stock Position in The Cigna Group (NYSE:CI)

Clark Estates Inc. NY lessened its holdings in shares of The Cigna Group (NYSE:CI) by 7.9% during the third quarter, Holdings Channel reports. The firm owned 10,500 shares of the health services provider’s stock after selling 900 shares during the quarter. Clark Estates Inc. NY’s holdings in The Cigna Group were worth $3,638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC raised its stake in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in The Cigna Group in the third quarter worth about $37,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the 3rd quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of The Cigna Group during the 2nd quarter worth approximately $66,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $335.07 on Wednesday. The firm’s 50-day moving average price is $334.32 and its 200-day moving average price is $338.53. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a market cap of $93.20 billion, a PE ratio of 31.61, a PEG ratio of 1.00 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 (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping 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 return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 earnings per share. As a group, analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 52.83%.

Analyst Ratings Changes

Several brokerages have commented on CI. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Royal Bank of Canada dropped 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. 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. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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.