Cinctive Capital Management LP Grows Position in The Cigna Group (NYSE:CI)

Cinctive Capital Management LP lifted its position in shares of The Cigna Group (NYSE:CI) by 41.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,709 shares of the health services provider’s stock after buying an additional 3,706 shares during the period. Cinctive Capital Management LP’s holdings in The Cigna Group were worth $4,403,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of The Cigna Group during the 2nd quarter valued at $66,000. Mather Group LLC. grew its stake in shares of The Cigna Group by 51.6% during the second quarter. Mather Group LLC. now owns 917 shares of the health services provider’s stock valued at $333,000 after acquiring an additional 312 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in The Cigna Group by 81.4% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,680 shares of the health services provider’s stock worth $1,216,000 after purchasing an additional 1,651 shares during the last quarter. Park Avenue Securities LLC raised its holdings in The Cigna Group by 8.2% in the second quarter. Park Avenue Securities LLC now owns 12,521 shares of the health services provider’s stock valued at $4,139,000 after acquiring an additional 952 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of The Cigna Group by 49.3% during the second quarter. Linden Thomas Advisory Services LLC now owns 1,287 shares of the health services provider’s stock worth $425,000 after purchasing an additional 425 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 0.2 %

NYSE:CI opened at $337.14 on Tuesday. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The stock has a fifty day simple moving average of $333.16 and a 200 day simple moving average of $338.34. The firm has a market capitalization of $93.77 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 1.02 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 earnings results 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 business had revenue of $63.70 billion during 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 Cigna Group’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted $6.77 earnings per share. Sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

CI has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Barclays boosted their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada lowered their price target 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average 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.