The Cigna Group (NYSE:CI) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its stake in shares of The Cigna Group (NYSE:CI) by 63.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 292 shares of the health services provider’s stock after selling 514 shares during the period. Harvest Fund Management Co. Ltd’s holdings in The Cigna Group were worth $101,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its holdings in shares of The Cigna Group by 5.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 5,338 shares of the health services provider’s stock worth $1,849,000 after acquiring an additional 285 shares during the period. Douglass Winthrop Advisors LLC raised its stake in The Cigna Group by 5.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 9,860 shares of the health services provider’s stock worth $3,416,000 after purchasing an additional 495 shares during the period. Daiwa Securities Group Inc. boosted its holdings in The Cigna Group by 60.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 54,617 shares of the health services provider’s stock valued at $18,921,000 after purchasing an additional 20,571 shares during the last quarter. Marco Investment Management LLC grew its stake in shares of The Cigna Group by 0.8% in the 3rd quarter. Marco Investment Management LLC now owns 72,388 shares of the health services provider’s stock valued at $25,078,000 after buying an additional 578 shares during the period. Finally, Summit Trail Advisors LLC increased its holdings in shares of The Cigna Group by 21.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 2,034 shares of the health services provider’s stock worth $705,000 after buying an additional 357 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Royal Bank of Canada lowered their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group 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 on the stock in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Price Performance

Shares of CI opened at $336.55 on Thursday. The company has a market cap of $93.61 billion, a P/E ratio of 31.75, a PEG ratio of 1.00 and a beta of 0.51. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week 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’s 50 day moving average price is $333.94 and its 200 day moving average price is $338.52.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 business 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 company’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 earnings per share. On average, research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

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

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.