Charles Schwab Investment Management Inc. lowered its holdings in The Cigna Group (NYSE:CI - Free Report) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,913,620 shares of the health services provider's stock after selling 147,009 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.69% of The Cigna Group worth $662,955,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of CI. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC boosted its stake in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in The Cigna Group in the third quarter worth $37,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group during the third quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
A number of equities research analysts have recently weighed in on CI shares. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Stephens reissued an "overweight" rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. StockNews.com cut shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Cantor Fitzgerald restated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $394.64.
Read Our Latest Stock Analysis on The Cigna Group
Shares of NYSE:CI opened at $330.71 on Friday. 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 firm has a market cap of $91.99 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 0.97 and a beta of 0.51. The stock's 50-day moving average price is $336.15 and its two-hundred day moving average price is $338.97. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83.
The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. The Cigna Group's revenue for the quarter was up 29.8% on a year-over-year basis. On average, research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's dividend payout ratio is currently 52.83%.
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.
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