Thrivent Financial for Lutherans Cuts Stake in The Cigna Group (NYSE:CI)

Thrivent Financial for Lutherans lessened its holdings in shares of The Cigna Group (NYSE:CI) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 276,019 shares of the health services provider’s stock after selling 2,092 shares during the quarter. Thrivent Financial for Lutherans’ holdings in The Cigna Group were worth $95,624,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares in the last quarter. Marks Group Wealth Management Inc grew its holdings in shares of The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Hancock Whitney Corp increased its position in The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after purchasing an additional 1,629 shares during the last quarter. ORG Partners LLC purchased a new stake in The Cigna Group during the second quarter valued at $489,000. Finally, Tidal Investments LLC lifted its position in The Cigna Group by 36.0% during the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.7 %

Shares of NYSE CI opened at $321.52 on Monday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The firm has a market capitalization of $89.43 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 0.97 and a beta of 0.51. The stock has a 50 day moving average price of $338.88 and a 200 day moving average price of $339.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

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 (EPS) 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 the consensus estimate 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 quarter in the prior year, the company earned $6.77 EPS. Sell-side analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CI shares. Barclays increased their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased 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. 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 research report on Friday, November 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One equities research 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 stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $394.64.

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.