National Bank of Canada FI Has $72.26 Million Holdings in The Cigna Group (NYSE:CI)

National Bank of Canada FI trimmed its stake in shares of The Cigna Group (NYSE:CI) by 34.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,575 shares of the health services provider’s stock after selling 107,824 shares during the period. National Bank of Canada FI owned about 0.07% of The Cigna Group worth $72,259,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Capital Investment Advisors LLC boosted its position in shares of The Cigna Group by 2.9% during the second 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. Mechanics Bank Trust Department raised its holdings in shares of The Cigna Group by 50.0% in the second quarter. Mechanics Bank Trust Department now owns 3,000 shares of the health services provider’s stock valued at $992,000 after purchasing an additional 1,000 shares during the last quarter. RFG Holdings Inc. acquired a new stake in shares of The Cigna Group in the second quarter valued at approximately $374,000. Sequoia Financial Advisors LLC lifted its position in shares of The Cigna Group by 23.1% in the second quarter. Sequoia Financial Advisors LLC now owns 4,626 shares of the health services provider’s stock worth $1,529,000 after purchasing an additional 868 shares in the last quarter. Finally, Cooper Financial Group boosted its holdings in The Cigna Group by 54.2% during the second quarter. Cooper Financial Group now owns 2,738 shares of the health services provider’s stock worth $905,000 after purchasing an additional 962 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Down 1.5 %

Shares of CI opened at $317.81 on Friday. The firm’s 50-day simple moving average is $331.01 and its 200 day simple moving average is $338.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $88.40 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.50. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping 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 company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter last year, the company earned $6.77 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, analysts forecast that The Cigna Group will post 28.49 earnings per share 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. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. Barclays boosted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada dropped their price objective on 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 cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group 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.