The Cigna Group (NYSE:CI) Shares Purchased by Banco Santander S.A.

Banco Santander S.A. grew its stake in The Cigna Group (NYSE:CI) by 1,749.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,147 shares of the health services provider’s stock after purchasing an additional 14,328 shares during the quarter. Banco Santander S.A.’s holdings in The Cigna Group were worth $5,248,000 as of its most recent SEC filing.

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

The Cigna Group Stock Performance

Shares of CI stock opened at $330.71 on Friday. The stock has a 50 day simple moving average of $336.15 and a 200-day simple moving average of $338.97. The company has a market cap of $91.99 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. 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, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the prior year, the company posted $6.77 EPS. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The Cigna Group’s payout ratio is 52.83%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CI. Royal Bank of Canada lowered their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Piper Sandler reiterated 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. Jefferies Financial Group increased their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. 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.