Mizuho Securities USA LLC Cuts Stake in The Cigna Group (NYSE:CI)

Mizuho Securities USA LLC trimmed its stake in The Cigna Group (NYSE:CI) by 17.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,127 shares of the health services provider’s stock after selling 3,781 shares during the quarter. Mizuho Securities USA LLC’s holdings in The Cigna Group were worth $6,280,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its position in The Cigna Group by 1.3% during the third quarter. Pacer Advisors Inc. now owns 21,532 shares of the health services provider’s stock valued at $7,460,000 after buying an additional 268 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 worth $3,829,880,000 after purchasing an additional 130,048 shares during the last quarter. Integrated Investment Consultants LLC increased its holdings in The Cigna Group by 28.3% in the third quarter. Integrated Investment Consultants LLC now owns 1,074 shares of the health services provider’s stock valued at $372,000 after buying an additional 237 shares during the last quarter. Tradewinds LLC. raised its position in shares of The Cigna Group by 5.2% during the 3rd quarter. Tradewinds LLC. now owns 14,846 shares of the health services provider’s stock valued at $5,143,000 after acquiring an additional 731 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of The Cigna Group by 11.1% in the 3rd quarter. Intech Investment Management LLC now owns 73,054 shares of the health services provider’s stock worth $25,309,000 after buying an additional 7,304 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CI. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Trading Up 2.3 %

Shares of NYSE:CI opened at $330.71 on Friday. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. 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 firm has a market capitalization of $91.99 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. The firm has a fifty day moving average of $336.15 and a two-hundred day moving average of $338.97.

The Cigna Group (NYSE:CI) last issued its 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 company 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 revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 EPS. On average, equities analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal 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 dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

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.