D.A. Davidson & CO. Has $6.23 Million Holdings in The Cigna Group (NYSE:CI)

D.A. Davidson & CO. trimmed its position in The Cigna Group (NYSE:CI) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,989 shares of the health services provider’s stock after selling 3,231 shares during the quarter. D.A. Davidson & CO.’s holdings in The Cigna Group were worth $6,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its stake in The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after purchasing an additional 130,048 shares in the last quarter. Parnassus Investments LLC grew its holdings in shares of The Cigna Group by 2.1% in the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after purchasing an additional 59,011 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in The Cigna Group by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after purchasing an additional 150,765 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after buying an additional 405,694 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

NYSE CI opened at $336.55 on Thursday. The firm’s 50 day moving average is $333.94 and its 200-day moving average is $338.52. 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 company has a market capitalization of $93.61 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83.

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, beating 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 firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the company earned $6.77 earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. Equities research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CI shares. Barclays increased their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average 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.