Camden National Bank Sells 40 Shares of The Cigna Group (NYSE:CI)

Camden National Bank lowered its stake in The Cigna Group (NYSE:CI) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,428 shares of the health services provider’s stock after selling 40 shares during the quarter. Camden National Bank’s holdings in The Cigna Group were worth $495,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CI. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC increased its holdings 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 valued at $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new position in The Cigna Group in the third quarter worth approximately $37,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of The Cigna Group during the 2nd quarter valued at $66,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.5 %

Shares of CI stock opened at $328.43 on Friday. The stock’s 50 day simple moving average is $335.43 and its two-hundred day simple moving average is $338.87. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a market cap of $91.35 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.77 earnings per share. Research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Barclays increased their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group upped their target price 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. 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 report on Wednesday, August 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One investment 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Company 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.